IMEB 4.3.1 Continuing fiduciary duties

A firm is not responsible for any deficit in client money arising as a result of, or in connection with, a third party-related distribution event if the firm—

(a) used appropriate skill, care and judgement in the selection of the eligible bank or eligible intermediary and its subsequent monitoring of the bank or intermediary; and
(b) complied with its other fiduciary duties.
Derived from QFCRA RM/2011-3 (as from 1st July 2011)