CIPR 3.4.1 Reliance on information provided by others

(1) If an authorised firm relies on information that was provided to it by another person, the firm is taken to comply with a provision of these rules that requires it to obtain information if the firm can show that it is reasonable for it to rely on the information.
(2) For subrule (1), it is reasonable for the firm to rely on the information if:
(a) the other person provided the information in a durable medium;
(b) the firm believes on reasonable grounds that the person who provided the information was competent to provide it; and
(c) the firm is not aware, and it is reasonable for the firm not to be aware, of anything that would give it reasonable grounds to question the accuracy of the information.
Derived from QFCRA RM/2019-2 (as from 1st January 2020).