How Much do you Know about the Beneficial Interest of your Brand Affiliate Account? (2019.06.14)
How Much do you Know about the Beneficial Interest of your Brand Affiliate Account?
June 14, 2019
How much do you understand the Beneficial Interest in your Brand Affiliate Accounts? It is closely related to your personal interest and pertaining to the key points of every business partner’s compliant business operations. Let us talk about this in our Compliance Lesson today. What exactly is Beneficial Interest?
According to Nu Skin’s current Policies and Procedures, as to Brand Affiliate Accounts, beneficial interest refers to any interest whatsoever, whether it is direct or indirect, including but not limited to any ownership interest, rights to present or future benefits, financial or otherwise, rights to go on Company sponsored trips and other events, rights to purchase Products at member prices, rights to get recognition of any type or other tangible or intangible benefits associated with a Brand Affiliate Account. Then what do you need to pay special attention to concerning your Beneficial Interest?
- One Brand Affiliate Account per individual. In principle, you are not allowed to have a Beneficial Interest in more than one Brand Affiliate Account.
- You have a Beneficial Interest in the Brand Affiliate Account of your spouse or Co-habitant. If you are a Brand Affiliate, and your spouse or co-habitant wants to become a Brand Affiliate, the spouse or Cohabitant must be added to your Brand Affiliate Account.
- If you are or should be listed on the Business Entity Form of a business entity, you are considered to have a Beneficial Interest in such business entity’s Brand Affiliate Account. Your beneficial interest in a business entity will be deemed to be your Beneficial Interest in the Brand Affiliate Account.
- If you are or should be listed as an Additional Participant in a Joint Participation Form, you are considered to have a Beneficial Interest in such Brand Affiliate Account.
Please be reminded never set up any “dummy account” in addition to your existing account using others’ personal data or any false information, for any short-term benefit or purpose such as sales volume sprint, stockpile, resale of Nu Skin products from non-resident markets, etc. If you have Beneficial Interest in more than one account, it would be considered to be manipulation of the Sales Compensation Plan and presented to the Compliance Review Committee for imposing disciplinary actions once it has been substantiated by Nu Skin. Dear business partners, in order to realize Nu Skin’s vision of becoming the world’s leading business opportunity platform and safeguard the fairness of market and the Sales Compensation Plan, we need you to make joint efforts with us!
The relevant articles of Nu Skin Policies and Procedures are extracted as follows:
Chapter 1 Your Brand Affiliate Account
Section 3.4 One Brand Affiliate Account per Individual
Section 3.5 Acquisition of Beneficial Interest in and Merger of Brand Affiliate Accounts
Please scan the following QR code to find Nu Skin Policies and Procedures!