Commonwealth Consolidated Regulations

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Basic banking and general insurance products

                   A benefit is not conflicted remuneration if:

                     (a)  to the extent that the benefit is given in relation to financial product advice, the benefit only relates to the following financial products:

                              (i)  a basic banking product;

                             (ii)  a general insurance product;

                            (iii)  consumer credit insurance;

                            (iv)  a combination of any of those products; and

                     (b)  the provider does not, at the same time, provide advice about any other financial products; and

                     (c)  the provider is:

                              (i)  an agent or an employee of an Australian ADI; or

                             (ii)  otherwise acting by arrangement with an Australian ADI under the name of the Australian ADI.

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