Mr Costello asks whether Swann's incentives led to inappropriate sales.

"The entire point of them was to incentivise sales," he said, adding there was no incentive for anything else, such as complying with the law.

Mr Bessell says complying with the law was not addressed by the incentives, but should have been a given.

Mr Bessell accepts there were occasions where the incentives had led to products being sold inappropriately.

The hearing has adjourned until 9.30am. Check back shortly for our daily wrap-up story.