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.
Notice FAA-N20 Requirements for the Remuneration Framework for Representatives and Supervisors ("Balanced Scorecard Framework") and 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 .
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.