UK: 1. Requirement under PA93 and PA95 to disclose information about pension schemes to interested parties. The principal regulations are the Occupational Pension Schemes (Disclosure of Information) Regulations 1996. 2. FSA rules that require an exempt professional firm, before it provides a service that includes carrying on a regulated activity, to disclose in writing to the client that it is not authorised under FSMA. 3. The FSA obliges life insurers to advise individual policyholders that they may purchase their annuity from a different life office via the open market option. Also life policyholders requesting surrender values must be told that they may be able to sell their policy (see TRADED ENDOWMENT POLICIES), 4. FSA disclosure rules concern charges, remuneration and commission (Conduct of Business Rule 5.7). They oblige advisers to make consumers buying retail investment products (e.g. life insurance) aware of their status, the scope of their advice, a clear explanation of the costs of the products so that easy comparisons can be made and nection the advisers may have to the providers. An initial disclosure document must be given at the initial point of contact and a repeat disclosure document when a product is recommended. Independent advisers have to offer the option of payment by fee rather than just commission. See UTMOST GOOD FAITH; STATUS DISCLOSURE; PRODUCT DISCLOSURE; DISCLOSURE OF BASIS OF ADVICE.
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A stage in legal proceedings at which the parties to a suit must disclose to each other documents in their respective possession.
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MEDICAL,USA: Release or divulgence of information by an entity to persons or organizations outside of that entity.
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The duty of an applicant and his broker to tell the underwriter every material circumstance before acceptance of risk.