SRA Standards and Regulations
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Found in
SRA Financial Services (Conduct of Business) Rules
Professional and organisational requirements
You must ensure that: the firm and each relevant employee possesses appropriate knowledge and ability in order to complete their tasks and perform duties adequately; and that all the persons in its management structure and any staff directly involved in insurance distribution activities are of good repute. In considering a person's good repute, you must as a minimum ensure that the person: has...
Found in
SRA Financial Services (Conduct of Business) Rules
Insurance product information document and appropriate information
You must ensure that the client is given objective and relevant information about a policy in good time prior to the conclusion of the policy, so that the client can make an informed decision. You must provide the information in rule 21.1 to the client: whether or not you give a personal recommendation; and irrespective of the fact that the policy is offered as part of a package with: a...
Found in
SRA Financial Services (Conduct of Business) Rules
Regulated credit agreements
Where you carry on a credit-related regulated financial services activity involving a proposed regulated credit agreement, you must: provide adequate explanations to the client in order to enable the client to assess whether the proposed regulated credit agreement is suitable to the client's needs and financial situation; and when providing such explanations, comply with the requirements of...
Found in
SRA Financial Services (Conduct of Business) Rules
Status disclosure
Notwithstanding the wider information obligations in the SRA Codes of Conduct, you must give the client the following information in writing in a manner that is clear, fair and not misleading before providing a service which includes the carrying on of a regulated financial services activity and in good time before the conclusion of a contract of insurance: a statement that you are not...
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
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
Disclosure of information
Where you undertake credit-related regulated financial services activities for a client, you must ensure that information in connection with such activities and any agreements to which they relate are communicated to the client in a way that is clear, fair and not misleading. Where you carry on the activity of credit broking, you must indicate in any advertising and documentation intended for...
Found in
SRA Financial Services (Scope) Rules
Application
These rules apply to authorised bodies that are not regulated by the FCA, their managers and employees and references to "you" in these rules should be read accordingly. Where an authorised body is a licensed body, these rules apply only in relation to the activities regulated by the SRA in accordance with the terms of the body's licence.
Found in
SRA Financial Services (Scope) Rules
Corporate finance
You must not act as any of the following: sponsor to an issue in respect of securities to be admitted for dealing on the London Stock Exchange; nominated adviser to an issue in respect of securities to be admitted for dealing on the Alternative Investment Market of the London Stock Exchange; or corporate adviser to an issue in respect of securities to be admitted for dealing on the ICAP...
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