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Financial Information Release Form Template for England and Wales

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Key Requirements PROMPT example:

Financial Information Release Form

"I need a Financial Information Release Form that allows my investment bank to share my financial records with a mortgage provider for a property purchase, with the authorization valid for 3 months starting from January 2025."

Document background
The Financial Information Release Form serves as a crucial document in situations where financial information needs to be shared securely and legally. It is designed to comply with English and Welsh law, including data protection regulations, financial services requirements, and banking protocols. This document is essential when financial institutions, professional advisors, or other authorized parties require access to an individual's or entity's financial information. It includes specific provisions for consent, data protection, and information usage, while establishing clear boundaries for the scope and duration of the authorization.
Suggested Sections

1. Requestor Information: Full details of the person/entity requesting financial information including name, address, contact details, and any relevant identification numbers

2. Information Owner Details: Complete details of the person whose financial information is being requested, including name, address, account numbers, and other relevant identifiers

3. Scope of Information: Detailed specification of the financial information being requested, including account types, date ranges, and specific data points required

4. Purpose Declaration: Clear statement of the intended purpose for requesting the information and how it will be used

5. Consent Statement: Explicit consent declaration including acknowledgment of data protection rights and authorization for information release

6. Data Protection Notice: Comprehensive notice about data processing, storage, security measures, and rights under UK GDPR and Data Protection Act 2018

Optional Sections

1. Third Party Authorization: Additional authorization section when information is to be released to a party other than the requestor

2. Time Limitation Clause: Specification of the time period for which the authorization remains valid

3. Confidentiality Requirements: Special handling and security requirements for the released information

4. Revocation Rights: Information about the right to withdraw consent and the process for doing so

Suggested Schedules

1. Schedule 1 - ID Verification Requirements: List of acceptable identification documents and verification requirements

2. Schedule 2 - Information Request Specification: Detailed form specifying exact information required and format of delivery

3. Schedule 3 - Authority Documentation: Template or requirements for power of attorney or other authority documents if applicable

4. Schedule 4 - Data Protection Statement: Detailed privacy notice and data protection information as required by UK GDPR

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




















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Relevant Industries
Relevant Teams
Relevant Roles
Industries

UK GDPR and Data Protection Act 2018: Primary legislation governing the processing, handling and protection of personal data in the UK, including financial information

Privacy and Electronic Communications Regulations (PECR): Regulations governing privacy and electronic communications, particularly relevant for electronic financial information sharing

Financial Services and Markets Act 2000 (FSMA): Core legislation regulating financial services and markets in the UK, including requirements for handling financial information

Financial Services Act 2012: Updates and amendments to financial services regulation, including provisions for information sharing and disclosure

Consumer Rights Act 2015: Legislation protecting consumer rights, including transparency and fairness in financial information disclosure

Banking Act 2009: Legislation governing banking operations and information handling within the banking sector

Money Laundering Regulations 2017: Regulations concerning anti-money laundering requirements and associated information gathering and sharing

Proceeds of Crime Act 2002: Legislation dealing with money laundering and proceeds of crime, including requirements for financial information disclosure

Common Law Contract Principles: Fundamental principles of contract law in England and Wales, including requirements for valid consent and agreement

Misrepresentation Act 1967: Legislation governing false or misleading statements in contractual relationships, relevant for accurate financial information disclosure

FCA Handbook: Comprehensive resource containing rules and guidance from the Financial Conduct Authority on financial information handling

Payment Services Regulations 2017: Regulations governing payment services and associated information sharing requirements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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