Single-client remuneration ceiling limits insurance intermediaries to diversified client income and requires independently certified annual compliance. Insurance intermediary business is subject to a 50 percent single-client remuneration ceiling in each financial year. A client includes an associate, ... Summary
Single-client remuneration ceiling limits insurance intermediaries to diversified client income and requires independently certified annual compliance.
Insurance intermediary business is subject to a 50 percent single-client remuneration ceiling in each financial year. A client includes an associate, subsidiary or group concern under the same management, and the Authority's determination of common management is final. Compliance certification must accompany audited accounts and may be issued by a practising Chartered Accountant, practising Company Secretary, practising Cost Accountant, or another appropriately qualified person specified by the Authority.
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