Statement of Advice given by financial services licensee: non‑monetary benefit that is not conflicted remuneration
7.7.09BC Statement of Advice given by financial services licensee: non‑monetary benefit that is not conflicted remuneration
This regulation is made for paragraph 947B(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 947B(2)(d) 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 Act’s bill:Explanatory statement
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