Principles and Practices for the Sale of Products and Services in the Financial Sector Survey

In the Principles and Practices for the Sale of Products and Services in the Financial Sector released by The Joint Forum of Financial Market Regulators: "The intermediary must include the names of organizations or persons that are, to his or her knowledge, directly providing remuneration to the intermediary; the relationship between the intermediary and the firm whose product is being considered; and any relationship(s) among the firms directly involved in a transaction. The intermediary should also disclose any other direct or indirect relationships that are relevant to the transaction. In cases where this information has not been disclosed because the intermediary is unaware of it, it is expected that he or she will have first made a reasonable effort at due diligence. The intermediary must also disclose all fees payable by the client, the method of the intermediary's remuneration (disclosure of specific amount is not required, but disclosure of the type of compensation is, i.e., fixed and percentage commission, salary, or other) and must disclose the existence of any other benefits from sales incentive programs related to the transaction (note: as with compensation, this disclosure only applies to the type of compensation the intermediary receives, not the specific amount)."
Do you feel that Intermediary Disclosure alone is sufficient for clients to understand the cost of acquisition of a Financial Product?
Yes No

Should all Acquisition Costs be disclosed by the product manufacturer or
issuer, giving the approximate percentage of the total for each e.g. a pie chart)?
Yes No

Would it be of value to a client to know with which companies an Intermediary places more than 20% of their business?
Yes No

Would it be of value to a client to know whether an Intermediary is restricted to dealing with or through only one company?
Yes No


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