Part XII - Termination of Agreement or Business

Question 1

When client requests to terminate contract when must that be actioned?

Answer 1

Immediately

Question 2

Before client terminates contract what must fsp ensure?

Answer 2

That client understands implications of termination

Question 3

What steps must be taken when fsp stops services excl representative?

Answer 3

Ensure that clients are notified immediately and steps to transfer to another fsp or conclude outstanding business

Question 4

What happens when representative stops operating at a fsp?

Answer 4

1.Ensure all affected clients are notified immediatey
2.Conclude outstanding business
3.Transfer clients to another provider or representative