SRA Handbook

Packaged products - execution-only business

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Version 19 of the Handbook was published on 01/10/2017. For more information, please click 'History' Above

Rule 8: Packaged products - execution-only business

8.1

If a firm arranges for a client on an execution-only basis any transaction involving a retail investment product, the firm shall send the client written confirmation to the effect that:

(a)

the client had not sought and was not given any advice from the firm in connection with the transaction; or

(b)

the client was given advice from the firm in connection with that transaction but nevertheless persisted in wishing the transaction to be effected; and in either case the transaction is effected on the client's explicit instructions.