Checklist · Financial Services Regulation
Review a benefit against the conflicted remuneration provisions that were opened
Worksheet for a benefit against sections 963A, 963E and 963J of the Corporations Act 2001. The rest of the Division, including the exceptions, was not opened.
- Kind
- Checklist. Steps or checks to work through and tick off.
- Where it applies
- Commonwealth
- AI use
- Yellow You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at
- 22 October 2026
- Status
- Maintained. Checked on 22 October 2026 against the 3 authorities it cites, for Commonwealth.
- Version
- 1
- Source
- Written for this library
When to use it
Use when a licensee or an employer reviews a benefit paid to a licensee or a representative who gives financial product advice to retail clients. Do not use it to apply an exception.
Used for these tasks
Each task page says how far AI may help with the task and what the lawyer must review.
How AI may be used
AI may list the parties and the amount from a contract the principal supplies and may leave the conclusion blank.
AI may
- Insert the payer, the receiver and the amount from the document the principal marks
- Quote the clause that describes what the benefit is for
AI must not
- Must not decide that a benefit is or is not conflicted remuneration
- Must not apply an exception
- Must not state a penalty amount
The lawyer checks
- The benefit is tested against section 963A(1)(a) and (b), including non-monetary benefits
- Section 963A(2) is applied, so causing or authorising a benefit is giving it
- Sections 963E and 963J are considered only if the definition is met, and the unread provisions of the Division are read before a benefit is cleared
Method: how the Green, Yellow and Red levels are decided. This is guidance for planning, not legal advice.
Read the full text
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- read the whole precedent, with its drafting notes beside it;
- copy it, or download it as a Word file or Markdown;
- add it to your firm’s knowledge base, so colleagues can find it;
- let the AI tools you connect read it from that knowledge base.
The summary, the law it rests on and the AI-use guidance above stay public. Privacy.
More in Financial Services Regulation
- Authorised representative agreement and written authorisation (AFS licensee)
- File review against the best-interests steps in section 961B
- AFCA complaint: online form and downloadable complaint form
- Reportable situation (breach) report to ASIC: assessment worksheet and completion guide
- Regulation Best Interest recommendation review checklist
- Client notice for AI-assisted or digital financial advice
- AFCA agent authority
- Hardship notice response letters under the National Credit Code (information request, decision and notice of change)
- Form CRS filing and delivery review checklist
- Record of retail, wholesale or sophisticated client status
- Distributor’s design and distribution reports to the issuer: significant dealing notice, complaints report and periodic report
- AFCA statement of financial position
- AFS or credit licensee AI governance policy
- Regulation Best Interest conflict procedures checklist
- Client money handling checklist and procedure for an AFS licensee (s 981B accounts)
- Credit reporting correction request worksheet
- AFCA resolution of directors
- Target market determination (template with statutory checklist)
- Regulation Best Interest care and profile checklist
- Responsible lending unsuitability assessment record (credit providers)
- Internal dispute resolution (IDR) final response letter, with delay notification
All precedents for Financial Services Regulation · Tasks and AI use in this area