Corporations Amendment Regulation 2013 (No. 4) (115 of 2013)

Schedule 1   Amendments

Corporations Regulations 2001

2   After subregulation 7.7A.12D(1)

Insert:

(1A) A monetary benefit is not conflicted remuneration if:

(a) the benefit is a fee paid between a financial services licensee that is a trading participant of a prescribed financial market and a financial services licensee that is not a trading participant in respect of dealings undertaken by a retail client through a specified service; and

(b) each of those trades is executed by the trading participant on behalf of the retail client; and

(c) the fee is a percentage, not exceeding 100%, of a brokerage fee paid directly or indirectly by the retail client; and

(d) no portion of the benefit is paid to a person other than the trading participant or the licensee that is not a trading participant.