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Compliance & Licensing

Cash & Non-Cash Compensation Policies

By October 29, 2024October 30th, 2024No Comments

Cash & Non-Cash Compensation Policies

When arranging marketing events or attending product offeror meetings where any form of compensation or financial support is received from the offeror, all RRs must adhere to the firm’s cash and non-cash compensation policies.

Below is a quick reference guide that details the timeline of submission for Due Diligence forms, the required documentation for a submission to be considered in good order, and guidelines for approval. This guide may be accessed via Merrill Connect here.

For additional details, please reference the Field Notice on Cash & Non-Cash Compensation or contact us at ESIElectronicCommunications@nationallife.com.

Forms When to Submit? Required Documentation Guidelines for Approval
Training Attendee Certification Prior to attending a product sponsor’s meeting
  • Form
  • Invitation
  • Agenda
  • Attendance may not be based on achieving a targeted sales goal.
  • Location must be appropriate.
  • Agenda must be educational in nature.
  • Only RR expenses may be covered.
  • Payment or reimbursement for golf outings, tours or other forms of entertainment are not permissible
Day Meeting Offeror Certification Promptly after the meeting
  • Form
  • Attendee list
  • Receipts
  • Agenda
  • Form needs to be certified/signed by the presenter or representative of the offeror.
Marketing Support / Reimbursements
  • Direct reimbursement (check) – Promptly after the event
  • Indirect reimbursement (offeror pays vendor directly) – Prior to the event
  • Form
  • Attendee list
  • Receipts
  • TC# for materials, invitation, or scripts to be used
  • Reimbursement is limited to $200 p/p, not to exceed $5,000 per product sponsor per calendar year.
  • A representative of the product sponsor must be in attendance.
  • No direct cash reimbursements are permitted, check must be sent to ESI.

TC7191740(1024)1

For Registered Representative Use Only – Not For Use With The Public

TC7241186(1024)1