Section 963A — Corporations Act 2001: Meaning of conflicted remuneration—general

(1) Conflicted remuneration means any benefit, whether monetary or non-monetary, given to a financial services licensee, or a representative of a financial services licensee, who provides financial product advice to persons as retail clients that: (a) because of the nature of the benefit or the circumstances in which it is given: (i) could reasonably be expected to influence the choice of financial product recommended by the licensee or representative to retail clients; or (ii) could reasonably be expected to influence the financial product advice given to retail clients by the licensee or representative; and (b) is not given to the licensee or representative by a person who is a retail client in relation to a financial product or financial service provided by the licensee or representative to the client. (2) For the purposes of this Subdivision, a reference to giving a benefit includes a reference to causing or authorising the benefit to be given.