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Application provision

7.1 This Chapter applies to every firm, but only with respect to business that can be regulated under section 137G of FSMA.

7.1

02/04/2015

This Chapter applies to every firm, but only with respect to business that can be regulated under section 137G of FSMA.

7.2

02/04/2015

No firm may pay a financial penalty imposed on a present or former employee, director or partner of the firm or of an affiliated company.

7.3

02/04/2015

No firm may enter into, arrange, claim on or make a payment under a contract of insurance that is intended to have, or has or would have, the effect of indemnifying any person against all or part of a financial penalty.

7.4

02/04/2015

The Society and managing agents must not cause or permit any member, in the conduct of that member’s insurance business at the Society, to enter into, arrange, claim on or make a payment under a contract of insurance that is intended to have, or has or would have, the effect of indemnifying any person against all or part of a financial penalty.