Legal and Regulatory Information

QRG Legal and Regulatory Obligations:

General Duty:
- Act in the Best Interest of Clients: QRG has a general duty to act in the best interest of their clients. This means putting the client’s needs ahead of their own and providing suitable advice and recommendations.
Disclosure and Transparency:
- Disclosure of Remuneration: QRG must disclose any fees that it receives from insurers or other parties related to the insurance transaction. Commercial customers can require a breakdown of insurance premiums to reveal commission payments.
- Material Information: QRG must provide clients with all material information related to the insurance policy, including coverage details, exclusions, and limitations.
- Conflict of Interest: QRG should disclose any potential conflicts of interest that may affect their ability to provide unbiased advice.
FCA authorisation and Qualifications:
- FCA authorisation: QRG are authorised by Financial conduct authority with FRN 309576.
- Continuing Education: QRG should stay informed about industry developments.
Duty of Care:
- Reasonable Skill and Care: QRG must exercise reasonable skill and care and assessing the client’s needs, researching suitable policies, and explaining coverage options.
Anti-Money Laundering (AML) Compliance:
- Know Your Customer (KYC): QRG must verify the identity of their clients and source of funds and report any suspicious transactions that may be related to money laundering or terrorist financing.
Data Privacy and Security:
- Protect Client Information: QRG must safeguard client data and comply with privacy laws. This includes handling personal information securely and obtaining consent for data processing.
Compliance with Laws and Regulations:
- State Laws and FCA Regulations: QRG must comply with all relevant state laws and FCA regulations, governing insurance transactions.
- Market Conduct Standards: QRG should adhere to market conduct standards set by regulatory authorities.