The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005

[F1Insurance product offers communicated to employees by third partiesU.K.

72C.—(1) If the requirements of paragraph (2) are met, the financial promotion restriction does not apply to any communication which is made to an employee by or on behalf of a person (“A”) in relation to work-related insurance.

(2) The requirements of this paragraph are that—

(a)the employer and A have entered into a written contract specifying the terms on which the communication may be made;

(b)in the case of a communication made by a person (“B”) on behalf of A, A and B have also entered into a written contract specifying the terms on which the communication may be made;

(c)the employer has not received, and will not receive, any direct financial benefit as a result of the communication being made;

(d)in the case of a non-real time communication, the communication contains, or is accompanied by, a statement informing the employee of their right to seek advice from an authorised person or an appointed representative; and

(e)the employer or A notifies the employee in writing prior to the employee entering into a contract for the work-related insurance of any remuneration A or B has received, or will receive, as a consequence of the employee entering into the contract, or the basis on which any such remuneration will be calculated.

(3) In this article “work-related insurance” has the meaning given by article 72B(3).]

Textual Amendments