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#1114957 - 01/22/09 03:23 PM Regulation R and incentives
E. Lavenza Offline
100 Club
Joined: Apr 2004
Posts: 111
laboratory
Did this affect anyone's referral program; i.e. employee referrals to financial services? How did you address it? Tx

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Operations Compliance
#1114966 - 01/22/09 03:32 PM Re: Regulation R and incentives E. Lavenza
BrendaC Offline
Power Poster
BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
We revised our policies and modified our referral program. We pay a nominal, one-time referral fee of $25 for a qualified referral by a non-licensed employee. No additional referral credit toward a branch performance or other retail bonus point program is available to non-licensed employees. The referral fee is contingent on the purchase or sale of a security, the opening of a brokerage account or the type of security transaction. A “qualified” referral is defined as a customer that keeps an appointment with a Financial Consultant.
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#1116477 - 01/23/09 09:25 PM Re: Regulation R and incentives BrendaC
E. Lavenza Offline
100 Club
Joined: Apr 2004
Posts: 111
laboratory
I thought the referral fee could not be contingent on whether or not a sale was made? Thanks for the input.

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#1116555 - 01/23/09 10:13 PM Re: Regulation R and incentives E. Lavenza
BrendaC Offline
Power Poster
BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
OOPS TYPO. It can't. But it can be contingent on whether the individual actually meets with the securities rep.
_________________________
Life without Jesus is like an unsharpened pencil - it has no point.

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