Provides guidance to financial advisers on the scope of the BSC framework, including independence of the Independent Sales Audit Unit, pre-transaction checks, reference checks and computation and recovery of remuneration from representatives and supervisors.
Published Date: 31 December 2015
Guidelines on the Remuneration Framework for Representatives and Supervisors ("Balanced Scorecard Framework"), Reference Checks and Pre-Transaction Checks [FAA-G14]
Guidelines for financial advisers on the requirements in , which sets out measures for the design and operation of the balanced scorecard framework and independent sales audit unit.
These guidelines apply to all licensed financial advisers and exempt financial advisers.
- Measures to apply to representatives and supervisors with unsatisfactory gradings under the balanced scorecard framework.
- Measures for information sharing in respect of such representatives and supervisors during reference checks.
- Expectations on financial advisers to conduct pre-transaction checks by supervisors.