CIPR 7.1.3 Initial disclosure document — additional requirements

After the information required by rule 4.4.2, the initial disclosure document for an authorised firm that proposes to conduct deposit-taking business must set out the following information in the following order:

(a) the firm's money-transfer terms, including, if appropriate:
(i) how fees are calculated;
(ii) how fees are to be paid and collected;
(iii) how frequently fees are to be paid; and
(iv) whether any other payment is receivable by the firm (or to its knowledge by any of its associates) instead of fees in relation to a transaction executed by the firm with or for the customer;
(b) the firm's terms about interest on deposits, including, if appropriate:
(i) how interest is calculated;
(ii) how interest is charged and paid; and
(iii) how frequently interest is charged and paid;
(c) the arrangements for customers to give instructions to the firm and the firm to acknowledge the instructions.
Derived from QFCRA RM/2019-2 (as from 1st January 2020).