remuneration

  1. (1) (except where (2), (3), (4), (5) or (6) apply) any form of remuneration, including salaries, discretionary pension benefits and benefits of any kind.
  2. [Note: article 92(2) of CRD]
  3. (2) (in SYSC 6.1.3-CR; SYSC 19F.1.1R; SYSC 19F.1.3R and SYSC 19F.1.4R ) all forms of payments or financial or non-financial benefits provided directly or indirectly by a firm to relevant persons in the provision of one or more of designated investment business, ancillary activities and ancillary services to clients.
  4. For the purposes of paragraph (2) of this definition, references to designated investment business include selling, or advising clients in relation to structured deposits.
  5. (3) (in SYSC 19F.2, PROD 4, ICOBS and, in relation to a life policy, in COBS 6.1ZA) any commission, fee, charge or other payment, including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given in respect of insurance distribution activities. [Note: article 2(1)(9) of the IDD]
  6. (4) (in COBS 19.1B) means any payment or benefit whatsoever:
  7. (a) charged to, or received from, a retail client (directly or indirectly); or
  8. (b) received by a firm, or by any person or entity connected with the firm;
  9. for, or in connection with, advice or other services provided by the firm, or by any of its associates that are also a firm.
  10. (5) (in SYSC 19F.3 and FPCOB) any commission, fee, charge or other payment, including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given in respect of funeral plan distribution or funeral plan provision activities.
  11. (6) (in SYSC 19F.4) any commission, fee, charge or other payment, including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given in respect of the activity of operating a POP.
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