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MIPRU 5.1 Application and purpose



2This chapter applies to a firm with a Part IV permission to carry on:

  1. (1)

    insurance business; or

  2. (2)

    mortgage lending;

  3. (3)

    and which uses, or proposes to use, the services of another person consisting of:

    1. (a)

      insurance mediation; or

    2. (b)

      insurance mediation activity; or

    3. (c)

      mortgage mediation activity.



The purpose of this chapter is to implement article 3.6 of the Insurance Mediation Directive in relation to insurance undertakings. The provisions of this chapter have been extended to mortgage lenders in relation to insurance mediation activity, and to insurance undertakings and mortgage lenders in relation to mortgage mediation activity, to ensure that firms using these services are treated in the same way and to ensure that clients have the same protection. To avoid the loss of protection where an intermediary itself uses the services of an unauthorised person, this chapter also ensures that each person in the chain of those providing services is authorised.

MIPRU 5.1.3G

This chapter supports the more general duties in Principles 2 and 3, and the relevant rule in the Senior Management Arrangements, Systems and Controls sourcebook (see SYSC 3.1.1 R).