Guidelines
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 Notice FAA-N20, 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.

They provide guidance on some of the requirements in Notice FAA-N20 and set out:

  • 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.