in the very first line of that document, 2004?2004, yes. Does that sound right to you?Yes. Thank you. Was this the central way that Swann incentivised employees of dealer groups?Yes. Was there any other way that it did it?There would be this is the this would be the – – I would say this was the most commonly used incentive system throughout the – network of ARs, authorised representatives, I’m sorry. From time to time we were – the Swann business would hold events, for example, corporate hospitality, for example, but in a in a formalised basis, this is the this was the incentive – – arrangement that was employed with the authorised representative staff, yes. you. Commissioner, I tender that document. THE COMMISSIONER: Ignition incentive program administrators manual, version 4, December IAG.500.051.5739, exhibit 6.309. ’14, EXHIBIT #6.309 IGNITION INCENTIVE PROGRAM ADMINISTRATORS MANUAL, VERSION 4, DECEMBER (IAG.500.051.5739) ’14 MR COSTELLO: Mr Bessell could I now take you to another document IAG.500.051.5697. While that’s coming up, does Swann, to the extent did Swann, – to the extent it was able to, seek to understand what incentive programs its competitors ran?I believe so, yes. Do you know whether or not some of Swann’s competitors had similar – incentive programs for the staff of authorised representatives?I I I can’t say that I – – do. I’m aware of similar I’m aware of incentive programs in the market generally – speaking but I I can’t say that I know the details of those programs. – Are you aware of incentive programs in the market generally for the employees of dealers?Yes. Yes. But I don’t know what they are, but Right. But Swann wasn’t to your to your knowledge, Swann wasn’t the only entity – that was seeking to incentivise the employees of dealers?No, I don’t believe so. Thank you. Have you seen this document before?I have. And is this a document that came out in a similar form reasonably regularly from Swann?Yes, it did. And correct me if I’m wrong, it seems to me, at least, that this document is a bonus within the ignition program?Yes, it is.
in the very first line of that document, 2004?2004, yes. Does that sound right to you?Yes. Thank you. Was this the central way that Swann incentivised employees of dealer groups?Yes. Was there any other way that it did it?There would be – this is the – this would be the – I would say this was the most commonly used incentive system throughout the network of ARs, authorised representatives, I’m sorry. From time to time we were – the Swann business would hold events, for example, corporate hospitality, for example, but in a – in a formalised basis, this is the – this was the incentive arrangement that was employed with the authorised representative staff, yes. you. Commissioner, I tender that document. THE COMMISSIONER: Ignition incentive program administrators manual, version 4, December ’14, IAG.500.051.5739, exhibit 6.309. EXHIBIT #6.309 IGNITION INCENTIVE PROGRAM ADMINISTRATORS MANUAL, VERSION 4, DECEMBER ’14 (IAG.500.051.5739) MR COSTELLO: Mr Bessell could I now take you to another document IAG.500.051.5697. While that’s coming up, does Swann, to the extent – did Swann, to the extent it was able to, seek to understand what incentive programs its competitors ran?I believe so, yes. Do you know whether or not – some of Swann’s competitors had similar incentive programs for the staff of authorised representatives?I – I – I can’t say that I do. I’m aware of similar – I’m aware of incentive programs in the market generally speaking but I – I can’t say that I know the details of those programs. Are you aware of incentive programs in the market generally for the employees of dealers?Yes. Yes. But I don’t know what they are, but Right. But Swann wasn’t to your – to your knowledge, Swann wasn’t the only entity that was seeking to incentivise the employees of dealers?No, I don’t believe so. Thank you. Have you seen this document before?I have. And is this a document that came out in a similar form reasonably regularly from Swann?Yes, it did. And correct me if I’m wrong, it seems to me, at least, that this document is a bonus within the ignition program?Yes, it is.
transcript-18-september-2018.docx