Purchases of product books

Purchases of product books

Michael Beaton Michael Beaton

Michael Beaton

Director @ DRS | Derivatives, Capital Markets and Structured Finance

发布日期: 2024年6月13日
+ 关注

Firms which purchase a product or service book from another firm will be expected to use their “best endeavours” to meet the requirements under the products and services outcome and the price and value outcome under the Consumer Duty.[1]? Any firm selling such a book of work will be expected to provide the purchaser with information to assist with the purchaser’s compliance with the Consumer Duty.[2]? Any regulated firm purchasing such a book of work will be required to gather relevant information from the selling firm to be able to comply with the Consumer Duty.[3]

Next time

Next time, we’ll be turning our attention to look at the differences between existing and closed products within the context of the Consumer Duty, so stay tuned!

[1] Policy Statement PS22/9, 3.21

[2] Policy Statement PS22/9, 3.21

[3] Policy Statement PS22/9, 3.21

要查看或添加评论，请登录

Michael Beaton的更多文章

  • Fear not! Help is at hand!
    2025年2月24日

    Fear not! Help is at hand!

    Check out our GMRA negotiation guide: https://www.linkedin.

  • YES WAY!!
    2025年2月17日

    YES WAY!!

    Buy-side firms have to do review netting and collateral opinions AS WELL AS sell-side firms! Want to save money? Want…

  • SM&CR – stay on the right path
    2025年2月10日

    SM&CR – stay on the right path

    If you are new to the SM&CR, check out our SM&CR implementation guide. Everything you need to know in one easy read!…

  • DORA in a nutshell
    2025年2月5日

    DORA in a nutshell

    DORA (the EU’s “Digital Operational Resilience Act”) comes into force on 17 January 2025. It will impact ALL financial…

  • Keep a lid on it!! Negotiating Non-Disclosure Agreements
    2025年2月3日

    Keep a lid on it!! Negotiating Non-Disclosure Agreements

    NDAs are incredibly important… Non-disclosure agreements (NDAs) play a critical role in the fast-paced world of…

  • The VM CSA 101
    2025年1月29日

    The VM CSA 101

    The VM CSA. First published in 2016.

  • The DNA of an NDA
    2025年1月27日

    The DNA of an NDA

    The humble NDA… The truth is that it’s not so humble. NDAs are often the first document out-of-the-blocks to be signed.

  • The ultimate guide to fit and proper testing
    2025年1月22日

    The ultimate guide to fit and proper testing

    How do you do that with limited resources? Where do you even start? You start by checking out “The Ultimate Guide to…

  • …unless of course, you are entering into a GMSLA!!
    2025年1月20日

    …unless of course, you are entering into a GMSLA!!

    Less widely used than its first cousin the GMRA, the Global Master Securities Lending Agreement (the “GMSLA”) is…

    1 条评论
  • Got your head around the Consumer Duty?
    2025年1月13日

    Got your head around the Consumer Duty?

    In today’s rapidly evolving regulatory landscape, the Financial Conduct Authority’s (FCA) Consumer Duty represents a…

    1 条评论

社区洞察

其他会员也浏览了