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Part IV Standards of Conduct, 11 Standards of Conduct:

Gerard McMeel

From: McMeel and Virgo On Financial Advice and Financial Products (3rd Edition)

Edited By: Gerard McMeel, John Virgo

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 01 July 2022

Subject(s):
Conduct of business regulation — Financial Services and Markets Act 2000 — UK Financial Conduct Authority (FCA)

This chapter discusses the rules and regulations setting the appropriate standard of behaviour for those who proffer financial advice and retail financial products. It explains the rules for the carrying on of financial services business, and in particular how contracts are formed and performed. It details the standard of care in negligence and the three pillars of the modern standard of behaviour required of a financial adviser: the obligations to know the client, to make suitable recommendations, and to provide an adequate understanding of risk. These are the principles underlying the detailed requirements of the conduct of business rules.

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