SRA Standards and Regulations
Showing 141 results
Found in
SRA Compensation Fund Rules 2021
Recovery and subrogation
Where the SRA makes a grant otherwise than by way of loan or if by way of loan repayments of the loan is waived or otherwise the borrower has failed to repay part or all of the loan, the SRA shall be subrogated to the rights and remedies of the person to whom or on whose behalf the grant is made to the extent of the amount of the grant. Where rule 17.1 applies, the recipient must if required...
Found in
SRA Compensation Fund Rules 2021
Refusal of an application
If the SRA refuses to make a grant of either the whole or part of the amount applied for, the applicant will be informed in writing of the reasons for the decision. The fact that an application has been rejected does not prevent a further application being submitted provided that material new relevant evidence or information is produced in support of the new application.
Found in
SRA Financial Services (Conduct of Business) Rules
Application
Apart from rule 2 (Status Disclosure), these rules apply to: authorised bodies which are not regulated by the FCA; authorised bodies which are regulated by the FCA, but only in respect of their non-mainstream regulated activities; and the managers and employees of authorised bodies in (a) and (b) above, and references to "you" in these rules should be read accordingly. Where an authorised body...
Found in
SRA Financial Services (Conduct of Business) Rules
Safekeeping of clients' investments
Where you undertake the regulated financial services activity of safeguarding and administering investments, you must operate appropriate systems, including the keeping of appropriate records, which provide for the safekeeping of assets entrusted to you by clients and others. Where such assets are passed to a third party: you should obtain an acknowledgement of receipt of the property; and if...
Found in
SRA Financial Services (Conduct of Business) Rules
Execution-only business
If you arrange for a client on an execution-only basis any transaction involving a retail investment product, you must send the client written confirmation to the effect that: the client had not sought and was not given any advice from you in connection with the transaction; or the client was given advice from you in connection with that transaction but nevertheless persisted in wishing the...
Found in
SRA Financial Services (Conduct of Business) Rules
Communication and disclosure
You must ensure that, in relation to insurance distribution: you communicate all information, including marketing communications, in a way that is clear, fair and not misleading. your marketing communications are always clearly identifiable as such.
Found in
SRA Financial Services (Conduct of Business) Rules
Demands and needs
Prior to the conclusion of a contract of insurance, you must specify on the basis of information obtained from the client, the demands and needs of that client. The details must be adapted according to the complexity of the contract of insurance proposed and the individual circumstances of the client. You must give the client a statement of the client's demands and needs prior to the...
Found in
SRA Financial Services (Conduct of Business) Rules
Use of intermediaries
You must not use, or propose to use, the services of another person consisting of: insurance distribution; reinsurance distribution; insurance distribution activity; or home finance mediation activity, unless the person: has permission to carry on the activity under Part 4A FSMA; is permitted to carry on the activity under an exemption made in or under FSMA, to the general prohibition set out...
Found in
SRA Financial Services (Conduct of Business) Rules
Fee disclosure: additional requirements
Where a fee is payable, you must inform the client of the amount of the fee before the client incurs liability to pay the fee, or before conclusion of the contract of insurance, whichever is earlier. To the extent that it is not possible for the amount in rule 17.1 to be given, you must give the client the basis for its calculation. This rule applies to all such fees that may be charged during...
Found in