Document ID: chunk:federal_register_of_legislation:F2015L00815:body:0:p11
Version: federal_register_of_legislation:F2015L00815
Segment Type: other
Provision Reference: 
Character Range: 30440–33852

expense transaction in item 4.2. Report the description of the type of relationship with the associate in item 4.2 column 1.

                                   For item 4.1 and item 4.2, report the name of the associate in column 2 and ABN of the associate in column 3.

                                   For item 4.1 and item 4.2, report the value of the expenses paid to the associate in column 4, the type of expense paid as investment expenses, administration expenses and operating expenses, advice expenses and insurance administration expenses in column 5 and a description of the expense in column 6.

                                   Report the value of expenses paid in column 4 and type of expense paid in column 5 in a manner equivalent to how expenses are reported on Reporting Form SRF 330.0 Statement of Financial Performance.

Investment expenses                Represents expenses that relate to the investment of the assets of the entity. Includes: expenses for which investment fees are charged and expenses associated with generating income on investments.

Administration expenses            Represents expenses that relate to the administration or operation of the fund. Includes: administration expenses for which administration fees are charged.  Report the total expense charged by an administrator where the administrator is also a service provider of activities other than administration e.g. custodial, and the expense is not segregated by activity type.

Operating expenses                 Represents expenses that relate to the operation of the fund by the RSE licensee. Includes: operating expenses for which administration fees are charged, such as expenses relating to advertising/marketing, commissions, director/individual trustee expenses, operating expenses associated with service provider and other operating expenses. Excludes: administration expenses.

Advice expenses                    Represents expenses that relate to the provision of financial product advice to a member. Includes: expenses for which activity fees relating to provision of financial product are charged.

Insurance administration expenses  Represents expense activities of an RSE licensee, life insurer, administrator or other service provider that relate to the administration or operation of acquired insurance or self-insurance arrangements to members. Excludes: expenses related to litigation resulting from insurance claims; costs of tenders for, and reviews of, insurance arrangements.

Glossary of additional items

Roles

Accountant                      Represents an accounting firm or individual accounting professional engaged to provide accounting services to the RSE. Excludes: accountants engaged to perform internal audit and external audit services.

Administrator                   Represents the person or entity responsible for the day-to-day administration of the RSE, including, but not limited to, keeping records, processing contributions, paying benefits, providing annual benefit statements, liaising with members, processing claims.

Asset consultant                Represents a person engaged to provide advice on the investment strategy and asset allocation, which may cover selection of investment managers. Excludes: implemented consultants.

Custodian                       Represents the person or entity that performs custodial functions in relation to any