Q&As

Are there EEA Equivalent rules to CASS 5 which broadly apply throughout Europe, or are these more UK specific?

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Published on LexisPSL on 07/06/2018

The following Financial Services Q&A provides comprehensive and up to date legal information covering:

  • Are there EEA Equivalent rules to CASS 5 which broadly apply throughout Europe, or are these more UK specific?

Rule 5.1.7 of the Financial Conduct Authority’s (FCA) Client Assets Sourcebook (CASS) (CASS 5.1.7) states that the rules in CASS 5.1 to CASS 5.6 also give effect to the requirement in article 4.4 of the (EU) Insurance Mediation Directive (Directive 2002/92/EC) that all necessary measures should be taken to protect clients against the inability of an insurance intermediary to transfer premiums to an insurance undertaking or to transfer the proceeds of a claim or premium refund to the insured.

Please note that in October 2018, the Insurance Mediation Directive is being replaced by the Insurance Distribution Directive (Directi

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