IMEB 4.1.1 Application — chapter 4

(1) This chapter applies to a firm if—
(a) the firm is an insurance intermediary with an authorisation that permits it to conduct only insurance mediation, or only insurance mediation and captive insurance management, and no other business that is or includes a regulated activity; and
(b) the firm holds client money.
(2) However, this chapter does not apply in so far as insurance mediation relates to reinsurance contracts.

Note1 Insurance intermediary is defined in rule 1.2.1 and insurance mediation is defined in rule 1.2.2. Authorisation, regulated activity and reinsurance contract are defined in the glossary. Client money is defined in rule 1.2.9.

Note 2 Insurance intermediaries to which this chapter applies should refer to INMA for how to deal with client money in case of firm-related distribution events or third party-related distribution events.
Amended by QFCRA RM/2014-3 (as from 1st January 2015)