Insurance

 Once an employee is licensed as an insurance producer, Illinois law does not restrict you from paying commissions, service fees, or other valuable consideration for any insurance sales made by the employee. See 215 ILCS 5/500-80(a)215 ILCS 5/1403(b). (Note that federal law prohibits depositary institutions from paying referral fees to tellers (and other deposit-taking employees) who make sales of insurance products unless the fee is “no more than a one-time, nominal fee of a fixed dollar amount for each referral that does not depend on whether the referral results in a transaction.” 12 U.S.C. 1831x(d)(2)(B)12 C.F.R. 343.50(b).)

 Other Nondeposit Investment Products (NDIPs)

 Similarly, banks may pay incentive compensation to employees selling nondeposit investment products with their Series 6 and Series 63 licenses. The Interagency Statement on Retail Sales of Nondeposit Investment Products states that “[p]ersonnel who are authorized to sell nondeposit investment products may receive incentive compensation, such as commissions . . . .” FIL 9-94. Banks must be careful to structure incentive programs so that employees do not make “unsuitable recommendations or sales” to customers, and compliance and audit personnel should not receive incentive compensation. Id.