Responsible Finance Forum

Putting the Principles to Work: Detailed Guidance on the Client Protection Principles

01 September 2011
Source:  The Smart Campaign

This draft guidance is intended to engage participants in developing a consensus on the meaning and interpretation of each of the Client Protection Principles (CPPs). It gives general guidance on how each principle should be applied.

The document is based on a slightly revised list of principles from the original six developed in 2008 which formed the basis of the Smart Campaign. The changes are proposed in order to open the CPPs beyond credit to accommodate all the major types of financial products. The new principles address the same issues as the original principles, though in a way that allows them to be applied to multiple products. Only one new concept has been introduced: non-discrimination, as part of the principle on respectful treatment of clients. The order of presentation has been adjusted to move from products and delivery mechanisms to client treatment, and ending with complaint resolution.