9 - conflicts of interest

which principle of the FCA talks about conflicts of interest

principle 8

what are the two types of conflict of interest they talk about

firm vs client

client vs client

example of firm vs client

we rip off a client to get a better profit for ourselves

example of client vs client

we treat one client better than another

4 things firms have to do to avoid conflicts of interest

• maintain arrangements to prevent conflicts of interest

• have controls in place to stop information flowing to rest of firm

• prepare a conflicts of interest policy + give it to retail clients

• disclose when there has been a conflict of interest (in durable medium) to the client before doing business

• keep records of activities when a conflict has arisen