SRA Handbook

Packaged products - execution-only business

Version 19 of the Handbook was published on 1 October 2017. For more information, please click "History" above.

Rule 8: Packaged products - execution-only business


If a firm arranges for a client on an execution-only basis any transaction involving a retail investment product, the firm shall send the client written confirmation to the effect that:


the client had not sought and was not given any advice from the firm in connection with the transaction; or


the client was given advice from the firm in connection with that transaction but nevertheless persisted in wishing the transaction to be effected; and in either case the transaction is effected on the client's explicit instructions.

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