Corporations Act 2001
CHAPTER 7
-
FINANCIAL SERVICES AND MARKETS
PART 7.7A
-
BEST INTERESTS OBLIGATIONS AND REMUNERATION
Division 4
-
Conflicted remuneration
Subdivision C
-
Ban on conflicted remuneration
SECTION 963K
963K
PRODUCT ISSUER OR SELLER MUST NOT GIVE CONFLICTED REMUNERATION
An issuer or seller of a financial product must not give a financial services licensee, or a representative of a financial services licensee, conflicted remuneration.
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteAn issuer or seller of a financial product must not give a financial services licensee, or a representative of a financial services licensee, conflicted remuneration.
Note: This section is a civil penalty provision (see section 1317E ).
[ CCH Note 1: S 963K will be amended by No 67 of 2024, s 3, Sch 1[97] and [ 98], by inserting " (1) " before " An " , substituting " subsection " for " section " in the note (effective 9 July 2025).]
[ CCH Note 2: S 963K(2) will be inserted by No 67 of 2024, s 3, Sch 1[99] (effective 9 July 2025). S 963K(2) will read:
Exception for insurance products
963K(2)
In determining whether an issuer or seller of a financial product contravenes subsection (1) , disregard section 963BB (which is about informed consent for certain insurance commissions).]
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.