7.7A.15A
CurrentNon‑monetary benefit given in certain circumstances not conflicted remuneration—education and training in conducting a financial services business
Chapter 7Financial services and markets
Part 7.7ABest interests obligations and remuneration
Division 4Conflicted remuneration
Subdivision 4Other monetary and non ‑ monetary benefits that are not conflicted remuneration
7.7A.15A Non‑monetary benefit given in certain circumstances not conflicted remuneration—education and training in conducting a financial services business
(1)
This regulation:
(a)
is made for paragraph 963C(1)(f) of the Act; and
(b)
prescribes the circumstances in which a non‑monetary benefit given to a financial services licensee, or representative of a financial services licensee, who provides financial product advice to persons as retail clients is not conflicted remuneration.
(2)
The benefit is not conflicted remuneration if the benefit:
(a)
has a genuine education or training purpose; and
(b)
is relevant to the carrying on of a financial services business; and
(c)
complies with regulations made for the purposes of subparagraph 963C(1)(c)(iii) of the Act.
This Act’s bill:Explanatory statement
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