Customer information order meaning

Overview In order to satisfy obligations under the Financial Conduct Authority (FCA)’s Consumer Duty, producers and distributors need access to details on the central features of a product or service, from its attributes and intended customer segment to the evidence underpinning consumer outcomes. Requirements to share information are fundamental to adhering to the Duty, enabling firms to act swiftly to tackle issues, avert consumer harm and secure good outcomes. This Checklist explains the duties on manufacturers and distributors to exchange information across the distribution chain and to issue notifications to counterparties and to the FCA under the Consumer Duty, in particular under PRIN 2A and FG22/5 Final non-Handbook Guidance for firms on the Consumer Duty. It covers the obligations to pass on information or alert other firms in the chain when harm or potential harm is detected, and to notify the FCA about firms within the chain. It also considers data protection duties and competition law matters. For guidance on the scope and elements of the Consumer Duty see...

In this issue: Investigating criminal conduct Criminal procedure and evidence Proceeds of crime Bribery, corruption, sanctions and export controls Consumer protection and cartels Environmental offences Financial services and pensions offences Food safety and hygiene offences Fraud, forgery, tax and theft offences Health and safety and corporate manslaughter offences International Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Investigating criminal conduct Home Office issues guidance on Economic Crime and Corporate Transparency Act The Home Office has released guidance on the information-sharing measures in the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023). It outlines provisions to help ensure businesses comply with the new measures, together with practical points for organisations, including arrangements for cross-sector sharing, obligations for law enforcement reporting, UK General Data Protection Regulation (GDPR) compliance, and customer redress. See: LNB News 04/10/2024 39. Criminal procedure and evidence...

In this edition: AML, CTF & counter-proliferation financing LexTalk®Risk & Compliance: a Lexis®Nexis community Daily and weekly news alerts Trackers New and updated content AML, CTF & counter-proliferation financing AML, CTF & counter-proliferation financing Government departments update ECCTA guidance on AML information sharing measures The Home Office, HM Treasury, Ministry of Justice, Companies House, the Serious Fraud Office and the Department for Business and Trade have refreshed guidance on information sharing under the Economic Crime and Corporate Transparency Act 2023. Issued on 3 October 2025, the revised guidance explains how anti-money laundering (AML) regulated businesses can share customer data, either directly or through third-party intermediaries, in order to prevent, identify and investigate economic crime...

In this issue Probate Trusts Court of Protection UK taxation for private clients HMRC manuals: updates Art and heritage property, landed estates and farming families Pensions, insurance and tax‑efficient investments Scotland, Wales and Northern Ireland International Question of the week Further Private Client updates this week Daily and weekly news alerts LexTalk® Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Useful information Probate Unique codes for probate applications can now be issued by email. HMRC’s Trusts and Estates Newsletter (August 2024) confirms that IHT400 filers may provide an email address and sign a disclaimer so HMRC can send the unique code required for the probate application electronically. See: LNB News 28/08/2024 16. Source: HMRC Trusts and Estates Newsletter (August 2024). Following a 3 September 2024 update from HM Courts & Tribunals Service Probate, the MyHMCTS service now allows applicants to...

This Practice Note summarises the confiscation regime set out in the Proceeds of Crime Act 2002 (POCA 2002), together with the changes introduced by Schedule 8 to the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023), insofar as it operates in Scotland. Schedule 8 amended the Proceeds of Crime Act 2022 to make provisions in connection with cryptoassets and confiscation orders. Those amendments have not yet been brought into force. Introduction to Scottish confiscation law and procedure Confiscation is the mechanism by which, after conviction, an offender’s financial gain from offending is taken away. The POCA 2002 confiscation provisions are designed to facilitate the recovery and seizure of the proceeds of crime in order to: disincentivise criminal activity, and prevent offenders from retaining the proceeds of crime following conviction This Practice Note addresses the Scottish confiscation process and procedure. For the parallel provisions in England and Wales, see the subtopic: Restraint and Confiscation. A confiscation order requires...

Scope of this Practice Note This Practice Note outlines information on the regulated activities of entering, as provider, into funeral plan contracts and performing funeral plan contracts as provider under article 59 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO), as amended from time to time. It also highlights the Financial Conduct Authority’s (FCA) regulatory framework as it applies to those undertaking these regulated funeral plan activities. Entering into funeral plan contracts Under RAO, SI 2001/544, art 59(1), entering into a funeral plan contract in the capacity of provider is a regulated activity. The FCA defines a ‘provider’ as the person who receives the pre-payments and undertakes to provide, or to arrange the provision of, the funeral at a future point. This could be the funeral director or a third party that arranges for someone else to deliver the funeral. A funeral plan contract is a contract where: a person (‘the customer’) makes one or more...

Customer information orders When an appropriate officer serves a customer information order on a financial institution under section 363 of the Proceeds of Crime Act 2002 (POCA 2002), that institution is obliged to disclose any ‘customer information’ it holds about the named individual. The material must be supplied to an appropriate officer in whatever form, and by whatever deadline, that officer specifies; for further details, see below: Effect of an order. For these purposes, a financial institution is any person carrying on business in the regulated sector, or someone who has ceased to conduct such a business. An order may direct all such institutions, or only a chosen group of them, to comply. The scheme applies to: confiscation investigations civil recovery investigations exploitation proceeds investigations money laundering investigations It does not apply to: detained cash investigations detained property investigations frozen funds investigations cryptoasset investigations...

This Agreement is entered into on [ date ] Parties [ insert name of supplier ] [ of OR trading as [ insert trading name ] of OR a company incorporated in [ England and Wales ] under number [ insert registered number ] whose registered office is at ] [ insert address ] (the Supplier); [ insert name of customer ] [ of OR trading as [ insert trading name ] of OR a company incorporated in [ England and Wales ] under number [ insert registered number ] whose registered office is at ] [ insert address ] (the Customer), (each of the Supplier and the Customer being a party, and together the Supplier and the Customer constituting the parties) Background The Supplier carries on the business of supplying [ insert description ] to other businesses. The Customer carries on the business of [ insert description ]. The parties have agreed that the Supplier...

This Agreement This Agreement is entered into on [ date ] Parties [ insert name of supplier ] [ of OR trading as [ insert trading name ] of OR a company incorporated in [ England and Wales ] under number [ insert registered number ] with its registered office at [ insert address ] (Supplier) ] [ insert name of customer ] [ of OR trading as [ insert trading name ] of OR a company incorporated in [ England and Wales ] under number [ insert registered number ] with its registered office at [ insert address ] (Customer) ] Each of the Supplier and the Customer is a party, and together the Supplier and the Customer are the parties. Background The Supplier operates a business supplying [ insert description ] to other businesses. The Customer operates the business of [ insert description ]. The parties have agreed that the Supplier will supply...

These current consolidated terms were published on [ insert date ]. For previous versions, see [ insert URL ]. Please read these terms carefully before proceeding and before you continue. By [ clicking ‘Accept’ on the associated order form ] you confirm agreement to the terms set out on this webpage (our Agreement) on behalf of the person or organisation [ e.g. identified as the ‘customer’ in the associated order form ] (the Customer), thereby creating a legally binding contract with [ insert legal name ], a company incorporated in England and Wales whose registered number is [ insert company number ] and whose registered office is at [ insert registered office ] (the Supplier). By [ clicking ‘Accept’ ] you further affirm and warrant that you hold the requisite capacity and authority to enter into our Agreement for and on behalf of the Customer as a legally enforceable and binding contract with the Supplier in all applicable jurisdictions. If you lack such capacity or authority, or do not...