Template:Nutshell COBS 2.3.1

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2.3.1 A firm must not give or receive any benefit benefit relating to client business except:

(1) Client Benefits: one the client pays forTemplate:Nutshell COBS 2.3.1/receives directly; or
(2) Third Party Benefits: a third party paysTemplate:Nutshell COBS 2.3.1/receives if:
(a) No impairment: it does not impair the firm’s duty to act in the client’s best interests; and
(b) Full disclosure: the firm fully discloses it before providing it; and
(c) Service enhancement: it enhances the quality of the firm’s service to the client; or
(3) Ancillary Benefits: one that facilitates designated investment business or ancillary services and doesn’t conflict with the client’s interests (eg custody, clearing or exchange fees, legal fees, etc.)
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