Part 1.2 Guidance
1 The principles in this Part are drawn up in accordance with FSR, article 15 (3), and are part of these rules.
2 The principles are a general statement of the standards expected of authorised firms. They apply directly to the conduct of business, and the operation and financial standing, of authorised firms.
3 The principles are not exhaustive of the standards expected. Complying with the principles does not absolve an authorised firm from failing to observe other requirements in these rules, and observing other requirements in these rules is not necessarily complying with the principles.
4 An authorised firm's failure to comply adequately with the principles is likely to affect the Regulatory Authority's assessment of the firm's fitness and propriety. A breach of the principles could form the basis of action by the authority.
|Inserted by QFCRA RM/2014-3 (as from 1st January 2015)|