Packaged products Flashcards
1
Q
What constitutes a packaged product?
A
o Life policy
o Regulated collective investment scheme/ investment trust savings scheme
o Stakeholder or personal pension scheme
2
Q
When a firm a packaged products to a private customer, the firm must provide what?
A
Disclosure of key features (‘key features document’ or KFD)
3
Q
When would a key investor information document (KIID) in place of the simplified prospectus (KFD) be used & what regulation was this under?
A
o For UCITS funds
ICITS IV introduced the key investor information document (KIID)
4
Q
What are the cancelation rights on packaged products but what is there no guarantee of?
A
o Normally 14 days
o 30 days for life policies and pensions
o No guarantee of getting all money back if shortfall in product
