Template:Nutshell COBS 2.3.1

2.3.1 A firm must not give or receive any fee, commission or non-monetary benefit (benefit) in relation to business carried on for a client other than:

(1) Client Benefits: a benefit paid to or by the client; or

(2) Third Party Benefits: a benefit paid or provided to or by a third party if:

(a) No impairment: it does not impair the firm's duty to act in the client’s best interests; and

(b) Full disclosure: it is clearly and comprehensively disclosed to the client before providing the service; and

(c) Service enhancement: the benefit is designed to enhance the quality of the service to the client; or

(3) Ancillary Benefits: benefits which enable designated investment business or ancillary services, such as custody costs, exchange fees, regulatory levies or legal fees, and which cannot give rise to conflicts with a clients’ best interests.