Commonwealth Consolidated Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS REGULATIONS 2001 - REG 7.7.04A

Financial services guide given by financial services licensee: more detailed information about remuneration etc

             (1)  For subsection 942B(7) of the Act, if:

                     (a)  the remuneration (including commission) or other benefits that a person mentioned in paragraph 942B(2)(e) or person 1 in subregulation 7.7.04(1) has received, or is to receive, are not able to be ascertained at the time the Financial Services Guide is given to the client; and

                     (b)  the providing entity reasonably believes that personal advice will not be given to the client; and

                     (c)  the Financial Services Guide does not contain particulars of the remuneration (including commission) or other benefits;

the client may request, from the financial services licensee, particulars of the remuneration (including commission) or other benefits.

             (2)  A request under subregulation (1) must be made within a reasonable time after the client is given the Financial Services Guide and before any financial service identified in the Guide is provided to the client.

             (3)  For subregulation (1), the particulars must, to the extent relevant, include a statement of the range of amounts or rates of remuneration (including commission) or other benefits.

Examples:

1                 Remuneration is paid within the range of $X to $Y.

2                 Commission is paid at rates between X% and Y%.

             (4)  The particulars mentioned in subregulation (3) must be presented in a manner that is easy for the client to understand.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback