The Common Conduct Standards will impose a single set of readily understood, basic obligations on individuals carrying out CFs within firms.
These apply to all regulated firms, it is not linked to whether the firm in which they perform the role is in scope of the SEAR.
These standards are straightforward and in line with what would be considered as good practice by individuals carrying out such functions.
The standards are:
- Acting with honesty and integrity;
- Acting with due, skill, care and diligence;
- Cooperating in good faith and without delay with regulators;
- Acting in the best interests of customers and treating them fairly and professionally; and
- Operating in compliance with standards of market conduct and trading venue rules.
For individuals carrying out PCF roles, a small number of Additional Conduct Standards are imposed relating to the individual's responsibilities as a senior executive.
These also apply to individuals in a CF1 role, i.e. those individuals who may exe
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