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Unit Standard No.12164Page 118

According to the legislation a provider must at the earliest reasonable opportunity, and where appropriate, furnish the client with full particulars of the following information about itself:

(a) Name, physical location, and postal and telephone contact details of the product supplier;

(b) (i) the contractual relationship with the product supplier (if any), and whether the provider has contractual relationships with other product suppliers;

(ii) names and contact details of the relevant compliance department of the product supplier;

(iii) details of complaints procedures in respect of complaints by clients maintained by the relevant product supplier;

(c) the existence of any conditions or restrictions imposed by the product supplier with regard to the types of financial products or services that may be provided or rendered by the provider; and

(d) where applicable, the fact that the provider –

(i) directly or indirectly holds more than 10% of the relevant product supplier’s shares, or has any equivalent substantial financial interest in the product supplier;

(ii) during the preceding 12 month period received more than 30% of total remuneration, including commission, from the product supplier, and the provider must convey any changes thereafter in regard to such information at the earliest opportunity to the client.

If this information is provided orally, then the Product Supplier must confirm such information within 30 days in writing.

INSMAT final materials31/10/03

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