PRINCIPLES FOR BUSINESS
Financial Services Authority
- A firm must conduct its business with integrity.
- A firm must conduct its business with due skill, care and diligence.
- A firm must take reasonable care to organise and control its affairs responsibly and effectively,with adequate risk management systems.
- A firm must maintain adequate financial resources.
- A firm must observe proper standards of market conduct.
- A firm must pay due regard to the interests of its customers and treat them fairly.
- A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading.
- A firm must manage conflicts of interest fairly, both between itself and its customers, and between a customer and another client.
- A firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgement.
- A firm must arrange adequate protection for clients' assets when it is responsible for them.
- A firm must deal with its regulators in an open co-operative way, and must disclose to the FSA appropriately anything relating to the firm of which the FSA would reasonably expect notice.
Source - FSA Handbook