Compensation Practices: Rapid Fire

What this video covers

• Bank networking arrangements under the Gramm-Leach-Bliley Act (GLBA), including the two-tier disclosure rule (written always, oral only on bank premises) and the four required substance points
• The one-time nominal cash referral fee permitted for unregistered bank employees, and why transaction-based percentage pay is prohibited
• The continuing-commission exception for retiring registered representatives, including the contract timing and post-retirement activity restrictions
• The foreign-finder exception, including the initial-referral-only limit and the non-U.S. customer requirement
• The four permitted categories of non-cash compensation and why internal sales contests must credit product types equally, never tilting to one issuer
• How the $300 per-person-per-year gift cap aggregates firm-wide, and the distinction between gifts and attended business entertainment
• Why accepting a customer order is never clerical or ministerial, and the per-associated-person, per-transaction recordkeeping requirement