SRA Standards and Regulations

Showing 141 results

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SRA Financial Services (Conduct of Business) Rules

Rule 3

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

Rule 4

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

Rule 5

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.
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SRA Financial Services (Conduct of Business) Rules

Rule 8

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

Rule 10

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

Rule 11

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

Rule 14

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

Rule 15

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...
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SRA Financial Services (Conduct of Business) Rules

Rule 16

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...
Found in

SRA Financial Services (Conduct of Business) Rules

Rule 18

Means of communication to clients

Rule 18 applies to all information required to be provided to a client in this Part. You must communicate information to the client on paper or using any of the following means: a durable medium other than paper where the following conditions are satisfied: the use of a durable medium other than paper is appropriate in the context of the business conducted between the firm and the client; and...