Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p17
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 17/49)
Character Range: 1023885–1026660

the name or brand name of:
 (i) the financial services licensee that is not a trading participant; or
 (ii) the trading participant and the financial services licensee that is not a trading participant; and
 (b) relates to the dealing, on behalf of the retail client, in a financial product traded on:
 (i) a declared financial market; or
 (ii) a prescribed foreign financial market; and
 (c) is provided in either or both of the following ways:
 (i) by direct electronic access;
 (ii) by telephone, but only if:
 (A) direct electronic access is not available for a temporary period, or the retail client expresses a preference that the service be provided by telephone; and
 (B) neither the trading participant nor the financial services licensee that is not a trading participant is to provide financial product advice to the retail client by telephone in relation to the dealing undertaken on the retail client's behalf; and
 (d) is provided in circumstances in which neither the trading participant nor the financial services licensee that is not a trading participant provides personal advice to the retail client in relation to the dealing undertaken on the retail client's behalf.
trading participant of a declared financial market or the market known as the ASX24 means a person who:
 (a) is a participant of the market admitted under the market's operating rules; and
 (b) is allowed, under the market's operating rules, to deal in one or more of the financial products that are able to be traded on the market.
Note: The ASX24 is the financial market operated by Australian Securities Exchange Limited that was formerly known as the Sydney Futures Exchange.

7.7A.12EA  Application of ban on conflicted remuneration—purchase or sale of financial advice business
  A monetary benefit is not conflicted remuneration to the extent that:
 (a) the benefit is given to a financial services licensee or a representative of the licensee; and
 (b) the benefit is paid as part of:
 (i) the purchase or sale of all or part of the licensee's financial advice business; or
 (ii) the purchase or sale of all or part of the representative's financial advice business; and
 (c) the price is calculated using a formula:
 (i) which is based, in whole or in part, on the number or value of all or part of the financial products held by the licensee's clients or the representative's clients; and
 (ii) in which the weighting attributed to the financial products issued by the licensee or a related body corporate or other person is the same as the weighting attributed to other similar financial products.

Subdivision 3—Monetary benefits that relate to life risk insurance products

7.7A.12EB  Life risk insurance products—clawback requirements related to cancellation etc.
  For the