Acting as Ancillary the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMA.Insurance Intermediaries Code
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This Code must be read with the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct. The the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct is the parent document of the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC Handbook and Frameworks; it sits above all other Codes in our the sum of Codes, Guidance, Frameworks and Policies, which set out the responsibilities of the Regulated Community and our approach to regulation.regulatory arrangements. The the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct prescribes six Ethical PluralCAPITAL an essential quality; a characteristic, behaviour or ethic, which must be demonstrated so that positive Outcomes are generated for Clients.Principles of behaviour which are essential to delivering the specific delivery of a positive result for Clients; it is the end result of the application of a principle or specific requirement the CLC’s Regulatory Arrangements are focused upon these Outcomes, which everyone who we regulate must deliver.Outcomes which sit beneath each of the Ethical PluralCAPITAL an essential quality; a characteristic, behaviour or ethic, which must be demonstrated so that positive Outcomes are generated for Clients.Principles. All the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC regulated individuals and bodies are expected to comply with the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct in the delivery of authorised under the Code of Conduct this means that Authorised Persons must personally carry out or supervise the Reserved Legal Activity provided.reserved legal activities and permitted non-under the Code of Conduct this means that Authorised Persons must personally carry out or supervise the Reserved Legal Activity provided.reserved legal activities.
The the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC also publishes several other topic specific Codes addressing important areas of practice, including this Acting as Ancillary the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMA.Insurance Intermediaries Code. Topic specific Codes underpin the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct and support regulated individuals and bodies in delivering the Ethical PluralCAPITAL an essential quality; a characteristic, behaviour or ethic, which must be demonstrated so that positive Outcomes are generated for Clients.Principles and delivery of a positive result for Clients; it is the end result of the application of a principle or specific requirement the CLC’s Regulatory Arrangements are focused upon these Outcomes, which everyone who we regulate must deliver.Outcomes of behaviour defined in the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct. Topic specific Codes apply to all regulated activities carried out by the individuals or bodies specified in that Code.
The the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC is a Designated Professional Body under Part XX of the Financial Services and Markets Act 2000 (arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA), and as such it must make methods of organisation including systems, procedures, controls, functions, roles, and processes.arrangements to regulate the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC Bodies in the provision of under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities in relation to which the the prohibition imposed by s.19 of the FSMA which states that no person may carry on a Regulated Activity in the United Kingdom, or purport to do so, unless he is (a) an Authorised Person; or (b) an Exempt Person.General Prohibition does not apply as a result of section 327 arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA.
In this Code ‘you’ refers to bodies regulated by the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC. All bodies regulated by the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC which act as insurance intermediaries must comply with this Code, the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct and other topic specific Codes, the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct, or the Ethical PluralCAPITAL an essential quality; a characteristic, behaviour or ethic, which must be demonstrated so that positive Outcomes are generated for Clients.Principles and must not permit anyone else to act or fail to act in such a way as to amount to a breach of this Code. These requirements do not apply to a person authorised by the Financial Conduct Authority in accordance with s.31 arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA.
Should circumstances arise in which there is an apparent conflict between a topic specific Code, the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct, or any other regulatory requirement, you must ensure that you comply with the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct. If in doubt, contact the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC for advice.
You must comply with the following a strict direction for conduct that must be complied with.specific requirements:
- The following activities shall not be considered to constitute insurance distribution or reinsurance distribution:
1.1 the provision of information on an incidental basis in the context of another professional activity where:
1.1.1 the provider does not take any additional steps to assist in concluding or performing an insurance contract;
1.1.2 the purpose of that activity is not to assist the customer in concluding or performing a reinsurance contract;
1.2 the management of under the Professional Indemnity Insurance Code and Operating Framework and Compensation Fund Operating Framework, unless otherwise stated, this means a request of payment due under the terms of a professional indemnity insurance policy (including the CLC’s Master Policy) or the CLC’s Compensation Fund.claims of an insurance an unequivocal declaration of intention, addressed to someone who reasonably places reliance upon it. It need not be in writing, nor contain the word “undertake”, to be enforceable.undertaking or of a reinsurance an unequivocal declaration of intention, addressed to someone who reasonably places reliance upon it. It need not be in writing, nor contain the word “undertake”, to be enforceable.undertaking on a professional basis, and loss adjusting and expert appraisal of under the Professional Indemnity Insurance Code and Operating Framework and Compensation Fund Operating Framework, unless otherwise stated, this means a request of payment due under the terms of a professional indemnity insurance policy (including the CLC’s Master Policy) or the CLC’s Compensation Fund.claims;
1.3 the mere provision of data and information on potential policyholders to insurance intermediaries, reinsurance intermediaries, insurance an unequivocal declaration of intention, addressed to someone who reasonably places reliance upon it. It need not be in writing, nor contain the word “undertake”, to be enforceable.undertakings or reinsurance an unequivocal declaration of intention, addressed to someone who reasonably places reliance upon it. It need not be in writing, nor contain the word “undertake”, to be enforceable.undertakings where the provider does not take any additional steps to assist in the conclusion of an insurance or reinsurance contract;
1.4 the mere provision of information about insurance or reinsurance products, an insurance intermediary, a reinsurance intermediary, an insurance an unequivocal declaration of intention, addressed to someone who reasonably places reliance upon it. It need not be in writing, nor contain the word “undertake”, to be enforceable.undertaking or a reinsurance an unequivocal declaration of intention, addressed to someone who reasonably places reliance upon it. It need not be in writing, nor contain the word “undertake”, to be enforceable.undertaking to potential policyholders where the provider does not take any additional steps to assist in the conclusion of an insurance or reinsurance contract.
- Subject to Requirement 6 and provided it complies with this Code you are only permitted to act as an Ancillary the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMAInsurance Intermediary providing under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities as specified by the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC by resolution and which are complementary to all of the legal activities – both reserved legal activities and non-reserved – which the CLC authorises/permits the Licensed Conveyancer, or Body, within the terms of the licence to provide, and which are therefore regulated by the CLC.Regulated Services provided to a any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client.
- You are not permitted:
3.1 to manufacture contracts of insurance,
3.2 to take up or pursue the activity of Reinsurance Distribution,
3.3 to distribute Insurance-based Investment Products,
3.4 to carry out distribution activities in relation to Large Risks Insurance,
3.5 to offer an ancillary product or service which is not insurance (with the exception of the substantive all of the legal activities – both reserved legal activities and non-reserved – which the CLC authorises/permits the Licensed Conveyancer, or Body, within the terms of the licence to provide, and which are therefore regulated by the CLC.Regulated Services), as part of a package or the same agreement, when you offer an insurance product.
- To effectively oversee under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities you appoint a means a person who is: a. if the body is a company and its affairs are managed by members, a member; b. if the body is a company and (a) does not apply, a director of the body; c. if the body is a partnership, a partner; d. if the body is a Limited Liability Partnership, an LLP member; e. if the body is an unincorporated body (other than a partnership), a member of its governing body; and f. a licensed conveyancer if sub-paragraphs (a)-(e) do not apply and the affairs of the body are not managed by another licensed conveyancer.Manager as the person who:-
4.1 is responsible for ensuring the body has procedures and practices to enable it to comply with this Code;
4.2 will supply to the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC or its agents information as required by the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC; and
4.3 will notify the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC immediately and in any event no later than seven days after each such appointment is made.
- Any means a person who is: a. if the body is a company and its affairs are managed by members, a member; b. if the body is a company and (a) does not apply, a director of the body; c. if the body is a partnership, a partner; d. if the body is a Limited Liability Partnership, an LLP member; e. if the body is an unincorporated body (other than a partnership), a member of its governing body; and f. a licensed conveyancer if sub-paragraphs (a)-(e) do not apply and the affairs of the body are not managed by another licensed conveyancer.Manager or (depending on the context) an individual employed by a CLC body, by an entity regulated by another legal regulator or by a local authority or other employer.employee providing under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities must be of good repute, and
5.1 must as a minimum have a clean criminal record (see further article 10(3) IDD), and
5.2 must not have previously been declared bankrupt, unless they have been rehabilitated in accordance with national law.
- You advise the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC if there is an order or direction of the Financial Conduct Authority under sections 328 or 329 arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA in force in respect of the body. Where such order is in force the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC may withdraw permission without notice.
- The manner of the provision of any service in the course of under the Code of Conduct this means that Authorised Persons must personally carry out or supervise the Reserved Legal Activity provided.Carrying on a under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activity is incidental to the provision by you of Professional Services.
- The under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities you carry on are not of a description, or relate to an investment of a description, specified in an order made by HM Treasury under section 327(6) arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA.
- The under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities are the only under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities carried on by the body (other than under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities in relation to which it is an as defined in s.417(1) FSMA, in relation to a Regulated Activity, a person who is exempt from the General Prohibition in respect of that activity.FSMA Exempt Person).
- You do not carry on, nor hold the body out as under the Code of Conduct this means that Authorised Persons must personally carry out or supervise the Reserved Legal Activity provided.Carrying on, a all of the legal activities – both reserved legal activities and non-reserved – which the CLC authorises/permits the Licensed Conveyancer, or Body, within the terms of the licence to provide, and which are therefore regulated by the CLC.Regulated Service other than one which is permitted by this Code or one in relation to which it is a as defined in s.417(1) FSMA, in relation to a Regulated Activity, a person who is exempt from the General Prohibition in respect of that activity.FSMA Exempt Person.
- You do not carry on any Insurance Distribution Activity unless the body is included in the the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMA.Insurance Intermediaries Register.
- The body and all of its means a person who is: 1. if the body is a company and its affairs are managed by members, a member; 2. if the body is a company and (a) does not apply, a director of the body; 3. if the body is a partnership, a partner; 4. if the body is a Limited Liability Partnership, an LLP member; 5. if the body is an unincorporated body (other than a partnership), a member of its governing body; and 6. a licensed conveyancer if sub-paragraphs (a)-(e) do not apply and the affairs of the body are not managed by another licensed conveyancer.Managers at all times comply with arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA, secondary legislation made under arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA and the Directive No 2002/92/EU.IMD, so far as they apply to them.
- The body and all of its means a person who is: 1. if the body is a company and its affairs are managed by members, a member; 2. if the body is a company and (a) does not apply, a director of the body; 3. if the body is a partnership, a partner; 4. if the body is a Limited Liability Partnership, an LLP member; 5. if the body is an unincorporated body (other than a partnership), a member of its governing body; and 6. a licensed conveyancer if sub-paragraphs (a)-(e) do not apply and the affairs of the body are not managed by another licensed conveyancer.Managers comply with the terms and provisions of the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC’s Acting as an the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMAInsurance Intermediary Code.
Acting as Ancillary the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMA.Insurance Intermediaries
the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMA.Insurance Intermediaries Register
- You only act as an ancillary insurance intermediary if you are registered on the Financial Conduct Authority’s (FCA) the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMA.Insurance Intermediaries Register. The the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC is responsible for supplying details of bodies to the FCA.
- Unless trading as a Sole Practitioner, you nominate one of your means a person who is: 1. if the body is a company and its affairs are managed by members, a member; 2. if the body is a company and (a) does not apply, a director of the body; 3. if the body is a partnership, a partner; 4. if the body is a Limited Liability Partnership, an LLP member; 5. if the body is an unincorporated body (other than a partnership), a member of its governing body; and 6. a licensed conveyancer if sub-paragraphs (a)-(e) do not apply and the affairs of the body are not managed by another licensed conveyancer.Managers to be listed on the Register as the main contact, with all correspondence relating to the activities of advising on, proposing, or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected by Clients through a website or other media and the compilation of an insurance product ranking list, including price and product comparison, or a discount on the price of an insurance contract, when the Client is able to directly or indirectly conclude an insurance contract using a website or other media.Insurance Distribution Activities is addressed to that individual.
- You check that the body is listed on the the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMA.Insurance Intermediaries Register before conducting any activity covered by paragraph 4 of the many of our regulatory Codes are underpinned by guidance which identify considerations to be borne in mind when seeking to deliver the identified outcomes; the guidance provided is not mandatoryGuidance.
- You inform us within 5 working days of any changes being made to your entry in the FCA’s register.
Notifications provided to any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).clients
- You provide two types of notification as permitted at Requirements 22, 23, 34 and 25:
- at the outset of instructions (and in any event before the contract of insurance is concluded);
- before a contract of insurance is concluded
Notes:
- Some of the provisions are unlikely to vary from one matter to another and can be provided in standard terms.
- A clear statement of the basis on which a particular product has been chosen must be made.
- The the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC understands there are relatively few providers of Title Indemnity Policies. It is unlikely therefore that any advice on products can be given on the basis of a fair analysis. It is much more likely they will be made from a limited number of insurance an unequivocal declaration of intention, addressed to someone who reasonably places reliance upon it. It need not be in writing, nor contain the word “undertake”, to be enforceable.undertakings or a single insurance an unequivocal declaration of intention, addressed to someone who reasonably places reliance upon it. It need not be in writing, nor contain the word “undertake”, to be enforceable.undertaking.
- In the case of telephone selling, the information you give to the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client prior to the conclusion of the contract, including the insurance product information document (see Requirement 27.6.1), shall be provided in accordance with the Distance Marketing Regulations. Even if the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client has chosen to obtain prior information on a the method by which information is stored in a way accessible for future reference (for no less than the period prescribed by the CLC) and which allows the unchanged reproduction of the information stored.Durable Medium other than paper in accordance with Requirement 23, you provide information to the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client in accordance with Requirement 21, 22 or 23 immediately after the conclusion of the insurance contract.
Passporting
- If you wish to establish an an agency or a branch of an Ancillary Insurance Intermediary which is located in the territory of a Member State other than the home Member State.IDD Branch or provide the activities of advising on, proposing, or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected by Clients through a website or other media and the compilation of an insurance product ranking list, including price and product comparison, or a discount on the price of an insurance contract, when the Client is able to directly or indirectly conclude an insurance contract using a website or other media.Insurance Distribution Activities in another EEA State you complete the arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA passporting process (arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA, paragraph 21, part III, schedule 3).
- You do not provide the activities of advising on, proposing, or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected by Clients through a website or other media and the compilation of an insurance product ranking list, including price and product comparison, or a discount on the price of an insurance contract, when the Client is able to directly or indirectly conclude an insurance contract using a website or other media.Insurance Distribution Activities in another EEA state unless you have given the FCA the necessary notice of the body’s intention to do so.
specifies by way of endorsements, the Authorisations, Permissions and Conditions of a CLC Licence.Terms & Information Provision
Providing under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities (including acting as an the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMAInsurance Intermediary)
- All information under Requirements 26 and 27:
21.1 must be clear and accessible, on paper and provided free of charge
21.2 must be provided in a way which is fair, clear and not misleading, no less prominent than any other information provided to the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client at the same time and in English or in any other language agreed by the you and the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client
21.3 insurance distribution marketing unless otherwise specified, communications sent by, or on behalf of a CLC regulated individual or body by post, a telecommunication system, or by other means, whilst in an electronic form.communications must be clearly identifiable as such.
- Information may be provided by the method by which information is stored in a way accessible for future reference (for no less than the period prescribed by the CLC) and which allows the unchanged reproduction of the information stored.Durable Medium other than paper (such as by email):
22.1 where it is appropriate in the context of the business conducted between you and the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client, and
22.2 the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client has been given the choice between information on paper and on a the method by which information is stored in a way accessible for future reference (for no less than the period prescribed by the CLC) and which allows the unchanged reproduction of the information stored.Durable Medium, and has chosen information on a the method by which information is stored in a way accessible for future reference (for no less than the period prescribed by the CLC) and which allows the unchanged reproduction of the information stored.Durable Medium.
- Information may be provided by 1. their spouse or civil partner;
2. their child or step-child (if under 18 years of age);
3. the trustee of a settlement* under which they have a life interest in possession;
4. an undertaking of which they are a Director;
5. an employee;
6. a partner (except where the shareholding or entitlement is a partnership in which the Non-Authorised Person is a partner, another partner);
7. if ‘the person’ means an undertaking – a director, a subsidiary undertaking (or a director or employee of it);
8.a person they have agreement or arrangement with respects to the acquisition, holding or disposal of shares or other interests;
9.a person they have agreement or arrangement with under which they undertake to act together in exercising their voting power (in relation to a body which does not have general meetings at which matters are decided by the exercise of voting rights this refers to the right under the body’s constitution to direct overall policy/alter its constitution); with 3% or more material interest. By ‘settlement’* we mean any disposition or arrangement under which property is held on trust (or a comparable obligation.means of a website if it is addressed personally to the customer or if the following conditions are met:
23.1 the provision of that information by 1. their spouse or civil partner;
2. their child or step-child (if under 18 years of age);
3. the trustee of a settlement* under which they have a life interest in possession;
4. an undertaking of which they are a Director;
5. an employee;
6. a partner (except where the shareholding or entitlement is a partnership in which the Non-Authorised Person is a partner, another partner);
7. if ‘the person’ means an undertaking – a director, a subsidiary undertaking (or a director or employee of it);
8.a person they have agreement or arrangement with respects to the acquisition, holding or disposal of shares or other interests;
9.a person they have agreement or arrangement with under which they undertake to act together in exercising their voting power (in relation to a body which does not have general meetings at which matters are decided by the exercise of voting rights this refers to the right under the body’s constitution to direct overall policy/alter its constitution); with 3% or more material interest. By ‘settlement’* we mean any disposition or arrangement under which property is held on trust (or a comparable obligation.means of a website is appropriate in the context of the business conducted between the insurance distributor and the customer;
23.2 the customer has consented to the provision of that information by 1. their spouse or civil partner;
2. their child or step-child (if under 18 years of age);
3. the trustee of a settlement* under which they have a life interest in possession;
4. an undertaking of which they are a Director;
5. an employee;
6. a partner (except where the shareholding or entitlement is a partnership in which the Non-Authorised Person is a partner, another partner);
7. if ‘the person’ means an undertaking – a director, a subsidiary undertaking (or a director or employee of it);
8.a person they have agreement or arrangement with respects to the acquisition, holding or disposal of shares or other interests;
9.a person they have agreement or arrangement with under which they undertake to act together in exercising their voting power (in relation to a body which does not have general meetings at which matters are decided by the exercise of voting rights this refers to the right under the body’s constitution to direct overall policy/alter its constitution); with 3% or more material interest. By ‘settlement’* we mean any disposition or arrangement under which property is held on trust (or a comparable obligation.means of a website;
23.3 the customer has been notified electronically of the address of the website, and the place on the website where that information can be accessed;
23.4 it is ensured that that information remains accessible on the website for such period of time as the customer may reasonably need to consult it.
- For the purposes of Requirements 23 and 24, the provision of information using a the method by which information is stored in a way accessible for future reference (for no less than the period prescribed by the CLC) and which allows the unchanged reproduction of the information stored.Durable Medium other than paper or by 1. their spouse or civil partner;
2. their child or step-child (if under 18 years of age);
3. the trustee of a settlement* under which they have a life interest in possession;
4. an undertaking of which they are a Director;
5. an employee;
6. a partner (except where the shareholding or entitlement is a partnership in which the Non-Authorised Person is a partner, another partner);
7. if ‘the person’ means an undertaking – a director, a subsidiary undertaking (or a director or employee of it);
8.a person they have agreement or arrangement with respects to the acquisition, holding or disposal of shares or other interests;
9.a person they have agreement or arrangement with under which they undertake to act together in exercising their voting power (in relation to a body which does not have general meetings at which matters are decided by the exercise of voting rights this refers to the right under the body’s constitution to direct overall policy/alter its constitution); with 3% or more material interest. By ‘settlement’* we mean any disposition or arrangement under which property is held on trust (or a comparable obligation.means of a website shall be regarded as appropriate in the context of the business conducted between you and the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client if there is evidence that the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client has regular access to the internet. The provision by the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client of an e-mail address for the purposes of that business shall be regarded as such evidence.
- In good time before providing under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.Regulated Activities, you provide the following information as permitted at Requirements 22, 23, 24 and 25 to the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client:-
25.1 your name, address, telephone, other contact details and that you are an ancillary insurance intermediary;
25.2 if not included in Requirement 26.1, the names of the means a person who is: 1. if the body is a company and its affairs are managed by members, a member; 2. if the body is a company and (a) does not apply, a director of the body; 3. if the body is a partnership, a partner; 4. if the body is a Limited Liability Partnership, an LLP member; 5. if the body is an unincorporated body (other than a partnership), a member of its governing body; and 6. a licensed conveyancer if sub-paragraphs (a)-(e) do not apply and the affairs of the body are not managed by another licensed conveyancer.Managers;
25.3 the name of the individual having day-to-day conduct of the matter and where applicable the name of the individual responsible for its overall supervision;
25.4 if the matter is to be conducted by a team, the identity of that team and the name of its leader(s);
25.5 the name of the individual to whom any an oral or written expression of dissatisfaction, which alleges that the complainant has suffered (or may suffer) financial loss, distress, inconvenience or detriment.complaint should be made;
25.6 an explanation of the procedure to be adopted where the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client is dissatisfied with the services received or conduct delivered; this must include the name and address of the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC and the the official (office) whose role is to investigate customer complaints against legal service providers.Legal Ombudsman (see further information provided in the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC’s an oral or written expression of dissatisfaction, which alleges that the complainant has suffered (or may suffer) financial loss, distress, inconvenience or detriment.complaints Code and many of our regulatory Codes are underpinned by guidance which identify considerations to be borne in mind when seeking to deliver the identified outcomes; the guidance provided is not mandatoryGuidance).
25.7 the following wording:-
‘’If you make a valid under the Professional Indemnity Insurance Code and Operating Framework and Compensation Fund Operating Framework, unless otherwise stated, this means a request of payment due under the terms of a professional indemnity insurance policy (including the CLC’s Master Policy) or the CLC’s Compensation Fund.claim against us for a loss arising out of work for which we are legally responsible, and we are unable to meet our liability in full, you may be entitled to under the Professional Indemnity Insurance Code and Operating Framework and Compensation Fund Operating Framework, unless otherwise stated, this means a request of payment due under the terms of a professional indemnity insurance policy (including the CLC’s Master Policy) or the CLC’s Compensation Fund.claim from the as set out at s.21(2) of the 1985 Act, the Fund out of which grants and other payments are made by the CLC for the purposes of relieving, or mitigating losses, incurred by persons in consequence of the negligence, fraud or other dishonesty, or failure to account, on the part of a CLC Body.Compensation Fund administered by the Council for Licensed Conveyancer: a person who holds a Licence issued by the CLC to provide Conveyancing and other legal services regulated by the CLC.Licensed Conveyancers (from whom details can be obtained”).
25.8 the following wording:-
“[this firm is/we are] not authorised by the Financial Conduct Authority.
However, we are included in the register maintained by the Financial Conduct
Authority so that we can carry on the activities of advising on, proposing, or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected by Clients through a website or other media and the compilation of an insurance product ranking list, including price and product comparison, or a discount on the price of an insurance contract, when the Client is able to directly or indirectly conclude an insurance contract using a website or other media.Insurance Distribution Activities, which is broadly advising on, selling and administration of insurance contracts. This part of our business is regulated by the Council for Licensed Conveyancer: a person who holds a Licence issued by the CLC to provide Conveyancing and other legal services regulated by the CLC.Licensed Conveyancers, and methods of organisation including systems, procedures, controls, functions, roles, and processes.arrangements for an oral or written expression of dissatisfaction, which alleges that the complainant has suffered (or may suffer) financial loss, distress, inconvenience or detriment.complaint or redress if something goes wrong are subject to the jurisdiction of the the official (office) whose role is to investigate customer complaints against legal service providers.Legal Ombudsman (www.legalombudsman.org.uk). The register can be accessed via the Financial Conduct Authority website at https://register.fca.org.uk”.
- Where you are proposing or advising on a contract of insurance then in good time before concluding any contract of insurance, or the renewal or the amendment of a contract of insurance, you must be satisfied that the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client has been provided with at least the following information, if such information has not already been provided, as permitted at Requirements 22, 23, 24 and 25:
26.1 whether the Body is an ancillary insurance intermediary, an insurance intermediary or an insurance an unequivocal declaration of intention, addressed to someone who reasonably places reliance upon it. It need not be in writing, nor contain the word “undertake”, to be enforceable.undertaking
26.2 whether the Body is representing the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client or is acting for and on behalf of the insurer
26.3whether you are providing a personal recommendation about the insurance products offered
26.4 that the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client may buy the contract of insurance separately
26.5 where an insurance product is ancillary to a good or a service which is not insurance, as part of a package or the same agreement, you will offer the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client the possibility of buying the good or service separately
26.6 based on the information obtained from the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client,
26.6.1 the demands and needs of the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client in relation to the insurance products that form part of the overall package or the same agreement
26.6.2 objective information about the insurance product, and
26.6.3 a personalised recommendation explaining why a particular product would best meet the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client’s demands and needs, in each case modulated according to the complexity of the contract of insurance proposed and the type of any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client and be in a comprehensible form to allow the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client to make an informed decision;
26.6.4 the reasons for giving Advice on the contract where such Advice is given to the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client;
26.6.5 the insurance product information document meeting the requirements of Article 20(5) to Article 20(8) of the IDD and Commission Implementing Regulation (EU) 2017/1469.
- Where information referred to in Requirements 26 and/or 27 is provided using a the method by which information is stored in a way accessible for future reference (for no less than the period prescribed by the CLC) and which allows the unchanged reproduction of the information stored.Durable Medium other than paper or by 1. their spouse or civil partner;
2. their child or step-child (if under 18 years of age);
3. the trustee of a settlement* under which they have a life interest in possession;
4. an undertaking of which they are a Director;
5. an employee;
6. a partner (except where the shareholding or entitlement is a partnership in which the Non-Authorised Person is a partner, another partner);
7. if ‘the person’ means an undertaking – a director, a subsidiary undertaking (or a director or employee of it);
8.a person they have agreement or arrangement with respects to the acquisition, holding or disposal of shares or other interests;
9.a person they have agreement or arrangement with under which they undertake to act together in exercising their voting power (in relation to a body which does not have general meetings at which matters are decided by the exercise of voting rights this refers to the right under the body’s constitution to direct overall policy/alter its constitution); with 3% or more material interest. By ‘settlement’* we mean any disposition or arrangement under which property is held on trust (or a comparable obligation.means off a website, a paper copy shall be provided to the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client upon request and free of charge.
- Any contract proposed must be consistent with the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client’s demands and needs.
Accounting to the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client
- In good time before the conclusion of the initial contract of insurance and if necessary on its amendment or renewal you must notify the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client as permitted at Requirement 22 of any any commission, fee, charge or other payment, including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given in respect of Insurance Distribution Activities.Remuneration you anticipate arising out of providing the activities of advising on, proposing, or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected by Clients through a website or other media and the compilation of an insurance product ranking list, including price and product comparison, or a discount on the price of an insurance contract, when the Client is able to directly or indirectly conclude an insurance contract using a website or other media.Insurance Distribution Activities for that any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client.
- You account to the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client for any any commission, fee, charge or other payment, including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given in respect of Insurance Distribution Activities.Remuneration received by you from a person other than your any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client arising out of you providing the activities of advising on, proposing, or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected by Clients through a website or other media and the compilation of an insurance product ranking list, including price and product comparison, or a discount on the price of an insurance contract, when the Client is able to directly or indirectly conclude an insurance contract using a website or other media.Insurance Distribution Activities (s.327(3) arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA).
- You must not be remunerated, and you must not remunerate or assess the performance of your (depending on the context) an individual employed by a CLC body, by an entity regulated by another legal regulator or by a local authority or other employer.employees, in a way that conflicts with their duty to act in accordance with the best interests of your any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client. In particular, you shall not make any arrangement by way of remuneration, sales targets or otherwise that could provide an incentive to you or to your (depending on the context) an individual employed by a CLC body, by an entity regulated by another legal regulator or by a local authority or other employer.employees to recommend a particular insurance product to your any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client when you could offer a different insurance product which would better meet the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client’s needs.
Specific Knowledge Requirements
- All staff providing the activities of advising on, proposing, or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected by Clients through a website or other media and the compilation of an insurance product ranking list, including price and product comparison, or a discount on the price of an insurance contract, when the Client is able to directly or indirectly conclude an insurance contract using a website or other media.Insurance Distribution Activities must possess appropriate knowledge and ability to perform their duties.
Other
- Where appropriate you refer and, if appropriate, take legal advice on the effect of IDD, arrangers or sellers of insurance products regulated by the Financial Conduct Authority (previously the Financial Services Authority).FSMA, secondary legislation, and the many of our regulatory Codes are underpinned by guidance which identify considerations to be borne in mind when seeking to deliver the identified outcomes; the guidance provided is not mandatoryGuidance.
- This Code does not prevent the distribution of insurance products which provide coverage for various types of risks (multi-risk insurance policies).
- Where you advise on, or propose, insurance products which you do not manufacture, you shall have in place adequate methods of organisation including systems, procedures, controls, functions, roles, and processes.arrangements:
35.1 to obtain all appropriate information on the insurance product and the product approval process, including the identified target market of the insurance product, and
35.2 to understand the characteristics and identified target market of each insurance product.
Should you require many of our regulatory Codes are underpinned by guidance which identify considerations to be borne in mind when seeking to deliver the identified outcomes; the guidance provided is not mandatoryguidance in meeting the requirements of this Code, please see the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC’s Acting as Ancillary the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMA.Insurance Intermediaries many of our regulatory Codes are underpinned by guidance which identify considerations to be borne in mind when seeking to deliver the identified outcomes; the guidance provided is not mandatoryGuidance