What are the fsa principles for business?

Answer 1

1. Integrity - A firm must conduct its business with integrity. 2. Skill, care and diligence - A firm must conduct its business with due skill, care and diligence. 3. Management and control - A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems. 4. Financial prudence - A firm must maintain adequate financial resources. 5. Market conduct - A firm must observe proper standards of market conduct. 6. Customers' interests - A firm must pay due regard to the interests of its customers and treat them fairly. 7. Communications with clients - 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. 8. Conflicts of interest - A firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client. 9. Customers: relationships of trust - 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. 10. Clients' assets - A firm must arrange adequate protection for clients' assets when it is responsible for them. 11. Relations with regulators - A firm must deal with its regulators in an open and co-operative way and must disclose to the FSA anything relating to the firm of which the FSA would reasonably expect notice.