OISC Code of Standards 2016 - Conflicts & Referrals
Updated 24 April 2024
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1. Conflict of interest
20.An adviser must explain fully and clearly in writing to a client or prospective client any circumstances in which they or their organisation have, or could gain, any interest or advantage in agreeing to act for them. This can include a real or potential conflict of interest. The client or prospective client, having received this information, must be given sufficient time to consider it. They must give their consent in writing before the organisation or that adviser can begin to act or continue to act for them.
2. Referrals for gain
21.An organisation or adviser must not demand or accept from any organisation or person an inducement, be it financial or otherwise, for referring or recommending a client.
22.An organisation or adviser must not offer an inducement, be it financial or otherwise, to any other organisation or person for referring or recommending a client.