Client Agreements Fca

The requirements for companies to provide their customers with the information referred to in (1) are defined in COBS 6.1ZA. You may continue to be amazed at the ACF`s definition of the client and, if so, you will certainly re-engage in it – but expect to conclude “Sorry to have asked”. In which the ACF refers to the much-debated and rarely asked question[1] “Who is this clientele?” If the information referred to in point (1) is communicated to a customer in good time before the provision of the service, an undertaking shall not be obliged to provide it separately or by integrating it into a customer contract. If you are a potential customer, we will discuss with you what services are available at the time of your request and whether one or more of them appear to be able to meet your needs. The company confirms that we offer the client, in good time before a retail investor is bound to an agreement on certain ancillary assets or services, or before the provision of these services: – We must comply with the ACF rules for client assets (CASS) to ensure that all funds are protected and completely separated from small investors. We clearly distinguish customers` money from our own by keeping these funds in separate bank accounts with our Jarvis deposit bank. The separation of client money ensures that in the event of insolvency, funds held in these accounts are returned to clients, net of costs incurred and distributed by directors, instead of being treated as intrusable assets by the company`s general creditors. 58 Investment firms which, after the date of application of this Regulation, provide a client with ancillary services or services in accordance with point (1) of Section B of Annex I to Directive 2014/65/EC shall conclude with the client a basic written agreement on paper or on any other durable medium which sets out the essential rights and obligations of the investment firm and the client. Investment firms providing investment advice will only comply with it if a regular assessment of the adequacy of the recommended financial instruments or services is carried out. The Financial Services Compensation Scheme (`FSCS`) is the Uk`s final compensation fund for clients of authorised financial services firms. This means that FSCS can pay compensation to consumers if we have to insolvent or if we stop trading.

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