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Choosing
to purchase your next car insurance policy from an FSA regulated insurer
has benefits both in the short and long term. The Financial Services Authority
regulates companies in many different ways. One way is by providing each
business with The Principles for the Conduct of Business under the FSA.
1. Integrity
A firm must conduct its business with integrity
2. Skill,
care and diligence
A firm must conduct its business with due skill, care and diligence
3. Management
and control
A firm must take reasonable care to organise and control its affairs responsibly
and effectively, with adequate risk management systems.
4. Financial
prudence
A firm must maintain adequate financial resources.
5. Market
conduct
A firm must observe proper standards of market conduct
6. Customers'
interests
A firm must pay due regard to the interests of its customers and treat
them fairly.
7. Communications
with clients
A firm must pay due regard to the information needs of its clients, and
communicate information to them in a way which is clear, fair and not
misleading.
8. Conflicts
of interest
A firm must manage conflicts of interest fairly, both between
itself and its customers and between a customer and another client.
9. Customer:
Relationships of trust
A firm must take reasonable care to ensure the suitability of
its advice and discretionary decisions for any customer who is entitled
to rely upon its judgement.
10. Clients'
assets
A firm must arrange adequate protection for client's assets when
it is responsible for them
11. Relations
with regulators
A firm must deal with its regulators in an open and co-operative
way, and must disclose to the FSA appropriately anything relating to the
firm of which the FSA would reasonably expect notice.
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