May 21, 2021 BY Steffy Bogdanova
ASIC seeks civil penalties against Equiti FS based on remuneration breaches
Referring to the Corporations Act 2001, ASIC also alleges that the aforementioned bonus payments were a breach of the prohibition of conflicted remuneration. This is said because the bonuses could, on obvious grounds, be an influencing factor in the financial product advice given by the advisors. The bonuses could have similarly influenced the choice of…
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