Corporations Act 2001
CHAPTER 7
-
FINANCIAL SERVICES AND MARKETS
A financial services licensee must not accept conflicted remuneration.
A financial services licensee contravenes this section if:
(a) a representative, other than an authorised representative, of the licensee accepts conflicted remuneration; and
(b) the licensee is the, or a, responsible licensee in relation to the contravention.
PART 7.7A
-
BEST INTERESTS OBLIGATIONS AND REMUNERATION
Division 4
-
Conflicted remuneration
Subdivision C
-
Ban on conflicted remuneration
SECTION 963E
LICENSEE MUST NOT ACCEPT CONFLICTED REMUNERATION
963E(1)
A financial services licensee must not accept conflicted remuneration.
Note: This subsection is a civil penalty provision (see section 1317E ).
963E(2)A financial services licensee contravenes this section if:
(a) a representative, other than an authorised representative, of the licensee accepts conflicted remuneration; and
(b) the licensee is the, or a, responsible licensee in relation to the contravention.
Note: This subsection is a civil penalty provision (see section 1317E ).
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.