If you are doing business with another licensed company, you should have the necessary approval for a licensed importer or sub-broker. We also recommended maintaining a protocol for all regulated importers. Please check our library of templates for templates or click on the hyperlinks below. However, for existing and new introductory points that you may be considering, it is essential that you think carefully about what you will allow them to do. If they do anything other than provide you with contact information, their activity may well be within the scope of the regulation. Cases where regulation is required are: presenters and IRAs cannot give advice or other services regarding the introduction, but may distribute leaflets on behalf of the client. If the business that presents you with a business depends on the existence of insurance distributions, it increases the likelihood that it will have to be admitted, unless it is exempted as an AR. So you need to consider your activities when considering a relationship with them. Customers who have signed up for the IAR Systems volume licensing program can benefit from priority or extended support in addition to standard support and update service.
For more information, contact your local IAR Systems sales office. When a business whose primary business is to obtain insurance results in a transfer to intermediaries and brokers, it is unlikely that it will be able to apply for a section 33 exemption. For more information on the By Way Of Business Test, see the Guidance Manual at PERG 5.4. An example of IAR is a real estate agent who provides information on real estate insurance and transmits customer data to a directly licensed insurance intermediary. An example of treatment with another licensed company would be the placement of stores at Lloyds through a wholesale broker. Detailed information about fixes, new features and improvements can be found in a service or feature version in the version notes of this release. You can download versions with your release notes on the MyPages customer portal. An Investment Advisory Representative (IAR) refers to authorized and licensed staff who work for investment advisory firms. The primary responsibility of an IAR is to provide investment advice as a financial advisor or planner. On the IAR Systems website, you`ll find a wide range of information about configuration and keywords, known problems and their solutions, as well as various indications and examples of implementing specific software designs.
In accordance with the regulations, IRAs can only provide advice on subjects on which they have passed the appropriate examinations. An IAR must also register with a registered Investment Advisor (RIA). In addition to the existence of these reviews, an investment representative must be registered with the relevant public authorities. In order to increase their knowledge of financial products and principles, many IARs have either the names certified Financial Planner (CFP) or Chartered Financial Analyst (CFA). You can make transactions with another licensed intermediary, including initiations, for general insurance transactions. However, please note that companies approved for credit intermediation or investment transactions are not automatically allowed to introduce a general insurance activity and may therefore be required to obtain permission from the regulator before doing so.