The PSF was deducted from MKPS accounts for the continued access to general advice and ongoing support services provided by the relevant adviser linked to the accounts. ?Yes. And point 3 is: MKPS members have accessed the services on an needed” basis to obtain “as this general advice. ?Yes. And then 4 is: Plan advisers are required to provide these services when requested by the MKPS members. ?Yes. And this appears to be consistent with NULIS continuing to maintain that the PSF is charged for access to services rather than for services. Do you agree?I think this is a statement of fact at this point in time, yes. But it’s a statement of fact that does not reflect your view ?Yes. as to the upon ?The need to yes, correct. – And, again, do you have an explanation that you want to offer to the Commissioner as to why you signed this letter, given that it did not reflect your view as to the basis on which the PSF was charged?So I would make two comments. I think that at that point, the trustee was looking to inquire and make further inquiry as to whether or not we could determine whether we had any view whether services were, in fact, – being provided, and at this point that this letter was approved, the trustee had asked for further work to be undertaken by the breach review committee in respect of the monitoring it had in place and whether or not we could make a determination that services were being provided. I’m I don’t understand. The statements made by NULIS in this letter are that the PSF was deducted for continued access to advice and services, rather than deducted for advice and services?Yes. And your explanation for why you signed the letter in this form is what?That at the point I signed the form, this was the conclusion that management had drawn, and at the point I form at the point I signed the letter, I also asked for further work to be – – undertaken in respect of the monitoring that had been in place over plan service fees, and that for a determine of the associated breaches, if the trustee could not conclude
The PSF was deducted from MKPS accounts for the continued access to general advice and ongoing support services provided by the relevant adviser linked to the accounts. ?Yes. And point 3 is: MKPS members have accessed the services on an “as needed” basis to obtain this general advice. ?Yes. And then 4 is: Plan advisers are required to provide these services when requested by the MKPS members. ?Yes. And this appears to be consistent with NULIS continuing to maintain that the PSF is charged for access to services rather than for services. Do you agree?I think this is a statement of fact at this point in time, yes. But it’s a statement of fact that does not reflect your view ?Yes. as to the upon ?The need to – yes, correct. And, again, do you have an explanation that you want to offer to the Commissioner as to why you signed this letter, given that it did not reflect your view as to the basis on which the PSF was charged?So I would make two comments. I think that at that point, the trustee was looking to inquire and make further inquiry as to whether or not we could determine – whether we had any view whether services were, in fact, being provided, and at this point that this letter was approved, the trustee had asked for further work to be undertaken by the breach review committee in respect of the monitoring it had in place and whether or not we could make a determination that services were being provided. I’m I don’t understand. The statements made by NULIS in this letter are that the PSF was deducted for continued access to advice and services, rather than deducted for advice and services?Yes. And your explanation for why you signed the letter in this form is what?That at the point I signed the form, this was the conclusion that management had drawn, and at the point I – form – at the point I signed the letter, I also asked for further work to be undertaken in respect of the monitoring that had been in place over plan service fees, and that for a determine of the associated breaches, if the trustee could not conclude