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The Principles include recommendations relating to both retail and non-retail customers. The precise application of these principles and explanatory notes is a matter for policy makers at a national level reflecting their assessments of different groups of customers in their jurisdiction.

The nine Principles cover the following:

  • Classification of customers
  • General duties irrespective of customer classification
  • Disclosure requirements
  • Protection of customers for non-advisory services
  • Suitability protections for advisory services (including portfolio management)
  • Compliance function and internal suitability policies and procedures
  • Incentives
  • Enforcement