Template:COBS Section 11.6.3: Difference between revisions
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::(b) passes on the [[broker]]’s or other person's charges to its customers; and <br> | ::(b) passes on the [[broker]]’s or other person's charges to its customers; and <br> | ||
::(c) is offered goods or services in return for the charges referred to in (b). <br> | ::(c) is offered goods or services in return for the charges referred to in (b). <br> | ||
:(2) | :(2) [deleted] <br> | ||
:(3) The prohibition under (1) does not apply where: | |||
::(a) the investment manager has reasonable grounds to be satisfied that the good or service received in return for the | |||
charges in (1)(b) will reasonably assist the investment manager in the provision of its services to its customers, on | |||
whose behalf the relevant customer orders are being executed; <br> | |||
::(b) the investment manager’s receipt of that good or service in return for the charges in (1)(b) does not, and is not likely to, | |||
impair compliance with the duty of the investment manager to act in the best interests of its customers; and | |||
::(c) that good or service either: | |||
:::(i) is directly related to the execution of trades on behalf of the investment manager's customers; or | |||
:::(ii) amounts to the provision of substantive research. <br> |