CIPR S1.2 Headings and information

A. General information
(a) the authorised firm's name and address;
(b) if the authorised firm is not the product provider, the name of and the address of the product provider;
(c) the name of the product;
(d) either of the following statements about the firm's authorisation:
(i) "Authorised by the Qatar Financial Centre Regulatory Authority";
(ii) "Authorised by the QFC Regulatory Authority";

Note Either of these statements is also required in the firm's business documents — see GENE, rule 3.1.2.
(e) if the authorised firm is not the product provider, information about the regulatory status of the product provider;
(f) the date of the document (or of its most recent version).
B. What is this product?
(a) information about the type of the product;
(b) information about the objectives of the product and the means for achieving them (in particular, whether the objectives are achieved by direct or indirect exposure to the underlying investment assets) and including:
•   a description of the underlying instruments or reference values;
•   a specification of the markets that the product invests in;
•   any specific environmental or social objectives of the product;
(c) how the return is determined;
(d) if the product offers a range of options for investments, and all the information required by this Schedule about each option cannot be provided in a single document — a general description of those options, and a statement of where and how more detailed information about the options can be found;
(e) a statement of whether income from the product will be distributed or reinvested;
(f) a description of the type of investor to whom the product is intended to be marketed, in particular in terms of the investor's ability to bear investment loss and the investment horizon;
(g) if the product offers insurance benefits, details of those benefits, including the circumstances that would trigger them;
(h) the term of the product (unless it is open-ended, and if so a statement of that fact);
(i) whether or not the product is Shari'a-compliant.
C. What are the risks and what could I get in return?
(a) a summary risk indicator, with a narrative explanation of that indicator and its main limitations, and a narrative explanation of the risks that are materially relevant to the product and are not adequately captured by the summary risk indicator;
(b) the possible maximum loss of invested capital, including information on:
•   whether a retail investor can lose all the invested capital;
•   whether the investor bears the risk of incurring additional financial commitments or obligations, including contingent liabilities, in addition to the capital invested in the product;
•   whether the product includes capital protection against market risk, and the details of any cover and its limitations, in particular as to the timing of when it applies;
(c) appropriate performance scenarios, and the assumptions made to produce them;
(d) information on any conditions for returns to retail investors or built-in performance caps;
(e) a statement that the tax law of the investor's jurisdiction of residence (including, if relevant, at the maturity of the term of the product) may affect the actual payout.
D. What happens if (name of product provider) is unable to pay out?

A brief statement of whether the loss is covered by an investors' or policyholders' compensation or guarantee scheme and if so:
(a) which scheme it is;
(b) the name of the guarantor;
(c) what risks are covered by the scheme and what are not; and
(d) the level of compensation that could be paid.
E. What are the costs?

Information on the costs of an investment in the product (comprising both direct and indirect costs to be borne by the investor, including one-off and recurring costs) presented by means of summary indicators of those costs and, to ensure comparability between products, total aggregate costs expressed in monetary and percentage terms, to show the compound effects of the total costs on the investment

A clear statement that advisors, distributors or any other person advising on or selling the product will provide information about any cost of distribution that is not already included in the costs specified above, so as to enable the investor to understand the cumulative effect of those costs on the return of the investment.
F. How long should I hold it and can I take out money early?

Information on:
(a) whether there is a cooling-off period or cancellation period for the product;
(b) the recommended minimum holding period and any required minimum holding period (if the product imposes an early withdrawal penalty (for example, for the cancellation of the initial units in a unit-linked product), the recommended minimum holding period should be at least as long as the period during which the penalty applies);
(c) the ability to make, the conditions for, and the costs of any disinvestments before maturity, including all applicable fees and penalties, having regard to the risk and reward profile of the product and the market evolution it targets;
(d) if the product is a life insurance contract, a description and illustration of the surrender value for each year of the contract
(e) information about the consequences of cashing in before the end of the term or recommended holding period, such as the loss of capital protection or additional contingent fees.
G. How can I complain?

Information about how and to whom the investor can make a complaint about the product, or the conduct of the product provider, or (if applicable) a person or firm advising on, or selling, the product.
H. Other relevant information

If an investment in the product is exposed to risk factors such as the use of leverage or derivatives, liquidity risk, counterparty risk, political risk or currency risk, an explanation of those risk factors

A brief indication of any additional information documents (not marketing material) to be provided to the investor at the pre-contractual or post-contractual stage

If the product is a life insurance contract, the key information document must include:
•   an explanation of any differences between the cancellation rights (if any) applying to the product (including the length of any period to exercise the rights) and those that would be provided under these rules if the insurer were a QFC insurer; and
•   a warning to the effect that the claims-handling procedures for the product may differ from those provided under these rules.
Derived from QFCRA RM/2019-2 (as from 1st January 2020).