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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