SRA Standards and Regulations
Showing 141 results
Found in
SRA Financial Services (Conduct of Business) Rules
Execution of transactions
You must ensure that where you have agreed or decided in your discretion to effect a transaction, you must do so as soon as possible, unless you reasonably believe that it is in the client's best interests not to.
Found in
SRA Financial Services (Conduct of Business) Rules
Records of transactions
Where you receive instructions from a client to effect a transaction, or make a decision to effect a transaction in your discretion, you must keep a record of: the name of the client; the terms of the instructions or decision; and in the case of instructions, the date on which they were received. Where you give instructions to another person to effect a transaction, you must keep a record of:...
Found in
SRA Financial Services (Conduct of Business) Rules
Record of commissions
Where you receive commission which is attributable to your regulated financial services activities, you must keep a record of: the amount of the commission; and how you have accounted to the client.
Found in
SRA Financial Services (Conduct of Business) Rules
Retention of records
Each record which is made under these rules shall be kept for at least six years from the date it is made.
Found in
SRA Financial Services (Conduct of Business) Rules
General information to be provided
In good time before the conclusion of a contract of insurance, you must disclose the following information to clients: whether you provide a personal recommendation about the insurance products offered; the procedures allowing clients and other interested parties to register complaints about you and information about the out-of-court complaint and redress procedures available for the...
Found in
SRA Financial Services (Conduct of Business) Rules
Scope of service
Where you propose, or give a client a personal recommendation for, a contract of insurance, then in good time before the conclusion of an initial contract of insurance and if necessary on its amendment or renewal, you must provide the client with information on whether you: give a personal recommendation on the basis of a fair and personal analysis; are under a contractual obligation to...
Found in
SRA Financial Services (Conduct of Business) Rules
Treating complaints fairly
Notwithstanding your complaints handling obligations in the SRA Code of Conduct for Firms, you must have in place and operate appropriate and effective procedures for registering and responding to complaints from a person who is not a client.
Found in
SRA Financial Services (Conduct of Business) Rules
Remuneration and the client's best interests
You must not: be remunerated; or remunerate or assess the performance of the firm's employees, in a way that conflicts with their duty to act in each client's best interest. In particular, you must not make any arrangement by way of remuneration, sales target or otherwise that could provide an incentive to the firm or its employees to recommend a particular contract of insurance to a client...
Found in
SRA Financial Services (Conduct of Business) Rules
Remuneration disclosure
In good time before the conclusion of the initial contract of insurance and if necessary, on its amendment or renewal, you must provide the client with information: on the nature of the remuneration received in relation to the contract of insurance; about whether in relation to the contract you work on the basis of: a fee, that is remuneration paid directly by the client; a commission of any...
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