Last Revised Date: 05 October 2020

Notice FAA-N20 Requirements for the Remuneration Framework for Representatives and Supervisors ("Balanced Scorecard Framework") and Independent Sales Audit Unit

Requirements on the balanced scorecard framework for representatives and supervisors of financial advisers, and the independent sales audit unit.

This notice applies to all licensed financial advisers and exempt financial advisers. It does not apply to a financial adviser in respect of the activities, recommendations or transactions set out under regulation 34A of the Financial Advisers Regulations .

It sets out the requirements, specifically the design and operation of the balanced scorecard framework, and the roles and responsibilities of the independent sales audit unit, that financial advisers must put in place in the remuneration structures for their representatives and supervisors.

Amendment Notes