Client Agrrement Flashcards
1
Q
Must be issued when?
A
Before conducting business
Or immediately after if business conducted over phone
2
Q
Not required for
A
Direct offer financial promotions
Life offices selling life and pension policies as principal
3
Q
Must include
A
Commencement
Regulation by FCA
Investment objectives
Restrictions
Payment status
Giving of instructions
Accounting
Withdrawal rights
Conflicts of interest
Risk warnings
Complaints
Compensation
Termination
4
Q
Must be kept for….
A
5 years or duration of relationship with client if longer
Indefinetely for pension transfers, opt outs or FSAVC
5
Q
Purpose
A
Clients know exactly what sort of firm they are dealing with, the services provided and then likely procedures and costs
