The Insurance Brokers Registration Council (Conduct of Investment Business) Rules Approval Order 1996

Explanatory Note

(This note is not part of the Order)

This Order approves the new Conduct of Investment Business Rules drawn up by the Insurance Brokers Registration Council for the purposes of the Insurance Brokers (Registration) Act 1977. It revokes the Insurance Brokers Registration Council (Conduct of Investment Business) Rules Approval Order 1988. The Rules approved by the Order were made by the Council so that the Council can continue to be recognised as a recognised professional body by the Securities and Investments Board under section 18 of the Financial Services Act.

The Rules include provision for:

(a) the authorisation by virtue of a certificate granted under these Rules of registered insurance brokers to carry on certain investment business;

(b) the issue, withdrawal and enforcement of such certificates; and

(c) the conduct of investment business, client relations and record-keeping by certified persons.

Copies of the Rules may be obtained from the Insurance Brokers Registration Council, 15 St Helen’s Place, London EC3A 6DS.

Compliance Costs

A Compliance Cost Assessment has been placed in the libraries of both Houses of Parliament. Copies are also available from DTI, 1 Victoria Street, London SW1H 0ET.