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Click here to view amending instruments for this sectionPRIN 2.1 The Principles

PRIN 2.1.1
06/06/2014
FCA
The Principles
2
1 IntegrityA firm must conduct its business with integrity.
2 Skill, care and diligenceA firm must conduct its business with due skill, care and diligence.
3 Management and controlA firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems.
4 Financial prudenceA firm must maintain adequate financial resources.
5 Market conductA firm must observe proper standards of market conduct.
6 Customers' interestsA firm must pay due regard to the interests of its customers and treat them fairly.
7 Communications with clientsA 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 interestA firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client.
9 Customers: relationships of trustA 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 judgment.
10 Clients' assetsA firm must arrange adequate protection for clients' assets when it is responsible for them.
11 Relations with regulatorsA firm must deal with its regulators in an open and cooperative way, and must disclose to the appropriate regulator appropriately anything relating to the firm of which that regulator would reasonably expect notice.1
Note: The PRA applies Principles 1 to 4, 8 and 11 only.1