remuneration
(1) (except where (2), (3) or (4)201 apply) any form of remuneration, including salaries, discretionary pension benefits and benefits of any kind.[Note: article 92(2) of CRD]172 (2) (in relation to those articles of the MiFID Org Regulation as applied in accordance with SYSC 1 Annex 1 2.8AR, SYSC 1 Annex 1 3.2-AR, SYSC 1 Annex 1 3.2-BR, SYSC 1 Annex 1 3.2CR, SYSC 1 Annex 1 3.3R; SYSC 19F.1.1R; SYSC 19F.1.3R and SYSC 19F.1.4R179) all forms of payments or financial or non-financial benefits provided directly or indirectly by a firm to relevant persons174 in the provision of one or more of designated investment business, ancillary activities and ancillary services to clients.172 [Note: article 2(5) of the MiFID Org Regulation]172
(3) (in SYSC 19F.2, PROD 4,206ICOBS and, in relation to a life policy, in COBS 6.1ZA) any commission, fee, charge or other payment, including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given in respect of insurance distribution activities.183[Note: article 2(1)(9) of the IDD]183
(4) (in COBS 19.1B) means any payment or benefit whatsoever:201
- (a) charged to, or received from, a retail client (directly or indirectly); or201
- (b) received by a firm, or by any person or entity connected with the firm;201
for, or in connection with, advice or other services provided by the firm, or by any of its associates that are also a firm.201
(5) (in SYSC 19F.3 and FPCOB) any commission, fee, charge or other payment, including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given in respect of funeral plan distribution or funeral plan provision activities.207