Lesson 2: Your Authorised Rep Responsibilities

Your Code of Conduct

As an Authorised Representative of Insight Investment Partners, you must:

Act with honesty and integrity.
Respect the law and act accordingly, including notifying the licensee of any incident or breach (whether actual or potential).
Respect the confidentiality of clients and the licensee.
Value and maintain professionalism.
Be familiar with and adhere to The Code of Ethics.

  
      Theme
      Key Points & Practical Expectations for Advisers
    
      Professional & Ethical Foundations
      Code of Conduct – Act honestly, with integrity and professionalism; respect the law; safeguard client and licensee confidentiality; report wrongdoing. 
FPA Code of Professional Practice – Must be understood and applied.
    
      Conflicts of Interest
      Always place the client’s interests first; ignore incentives or third-party benefits; treat all clients fairly; seek guidance where duties conflict; continually reassess and disclose conflicts.
    
      Prohibited & Permitted Benefits
      Non-monetary benefits < $100 – record in Benefits Register. $100–$300 – may be accepted but must be recorded. > $300 – must be declined. Sponsorships or payments that could influence advice are banned unless legislatively exempt.
    
      Policy Non-Adherence & Breach Reporting
      Report failures to provide mandated disclosures, breaches of best-interest duty, advice outside authority, or direct client-fund access immediately to the Compliance Manager.
    
      Training & CPD
      Complete induction within 8 weeks; maintain 7-year training register; meet annual CPD targets in Kaplan Ontrack; non-compliance can trigger authorisation suspension.
    
      Authorisations & Leave
      Only advise in authorised areas; notify Compliance Manager of membership/qualification changes within 10 business days; give 14 days’ notice for leave ≥ 3 months.
    
      Professional Indemnity (PI) Insurance
      Maintain adequate PI cover at all times as required under the licence.
    
      Specific “Must Not” Restrictions
      Do not act outside authority, sign on behalf of the licensee, receive or control client assets (with narrow family exceptions), or use practice address improperly.
    
      FAQs & Practical Guidance
      Provides clarity on conflicts, remuneration rules, CPD requirements, FAR disclosures, and licence authorisations.

Theme	Key Points & Practical Expectations for Advisers
Professional & Ethical Foundations	Code of Conduct – Act honestly, with integrity and professionalism; respect the law; safeguard client and licensee confidentiality; report wrongdoing. FPA Code of Professional Practice – Must be understood and applied.
Conflicts of Interest	Always place the client’s interests first; ignore incentives or third-party benefits; treat all clients fairly; seek guidance where duties conflict; continually reassess and disclose conflicts.
Prohibited & Permitted Benefits	Non-monetary benefits < $100 – record in Benefits Register. $100–$300 – may be accepted but must be recorded. > $300 – must be declined. Sponsorships or payments that could influence advice are banned unless legislatively exempt.
Policy Non-Adherence & Breach Reporting	Report failures to provide mandated disclosures, breaches of best-interest duty, advice outside authority, or direct client-fund access immediately to the Compliance Manager.
Training & CPD	Complete induction within 8 weeks; maintain 7-year training register; meet annual CPD targets in Kaplan Ontrack; non-compliance can trigger authorisation suspension.
Authorisations & Leave	Only advise in authorised areas; notify Compliance Manager of membership/qualification changes within 10 business days; give 14 days’ notice for leave ≥ 3 months.
Professional Indemnity (PI) Insurance	Maintain adequate PI cover at all times as required under the licence.
Specific “Must Not” Restrictions	Do not act outside authority, sign on behalf of the licensee, receive or control client assets (with narrow family exceptions), or use practice address improperly.
FAQs & Practical Guidance	Provides clarity on conflicts, remuneration rules, CPD requirements, FAR disclosures, and licence authorisations.

The Bottom Line:
Advisers must operate within a clear ethical framework, keep client interests paramount, record or refuse any benefit that could impair objectivity, remain properly trained and authorised, and escalate breaches or uncertainties to the Compliance Manager without delay.