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  3. Point in time
    2024-11-27

fee

  1. (1) (except in ICOBS and, in relation to a life policy, in COBS 6.1ZA) any payment or remuneration offered or made by a client to a firm in connection with designated investment business or with any other business of the firm, including (where applicable) any mark-up or mark-down;118
  2. (2) (in ICOBS and, in relation to a life policy, in COBS 6.1ZA)) remuneration payable directly by a customer in relation to insurance distribution activities carried on for the customer that is not:118
    1. (a) a commission of any kind, that is the remuneration included in the insurance premium; or118
    2. (b) any other type of remuneration (i.e. that is not directly payable by the customer), including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given in connection with the insurance contract.118
  3. (3) (in FPCOB) remuneration payable directly by a customer in relation to a funeral plan contract that is not included in the price of the funeral plan.137

[Note: article 19(1)(e)(i),(ii) and (iii) of the IDD] 118