- (1) (except where (2), (3), (4), (5) or (6) apply) any form of remuneration, including salaries, discretionary pension benefits and benefits of any kind.
- [Note: article 92(2) of CRD]
- (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.
- For the purposes of paragraph (2) of this definition, references to designated investment business include selling, or advising clients in relation to structured deposits.
- (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]
- (4) (in COBS 19.1B) means any payment or benefit whatsoever:
- (a) charged to, or received from, a retail client (directly or indirectly); or
- (b) received by a firm, or by any person or entity connected with the firm;
- for, or in connection with, advice or other services provided by the firm, or by any of its associates that are also a firm.
- (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.
- (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.
remuneration
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