Financial Services Guide given by authorised representative: non‑monetary benefit that is not conflicted remuneration
7.7.04AB Financial Services Guide given by authorised representative: non‑monetary benefit that is not conflicted remuneration
This regulation is made for paragraph 942C(4)(b) of the Act.
Information about a non‑monetary benefit that, in accordance with paragraph 963C(1)(b) of the Act, is not conflicted remuneration is not required by paragraph 942C(2)(f) of the Act.
Under paragraph 963C(1)(b) of the Act, if a non‑monetary benefit is given to a financial services licensee, or a representative of a financial services licensee, who provides financial advice, is less than the prescribed amount and identical or similar benefits are not given on a frequent or regular basis, the benefit is not conflicted remuneration.
This regulation is also relevant to website disclosure information made available in accordance with Division 2A of Part 7.7 of the Act (see paragraph 943J(b) of the Act).
This Act’s bill:Explanatory statement
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