Sub Broker Agreement

Sub Broker Agreement Generator for the USA

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Key Requirements PROMPT example:

"I need a Sub Broker Agreement for my London-based financial services firm to appoint a real estate sub broker, with specific provisions for handling property transactions and a competitive commission structure starting from March 2025."

Document background

The Sub Broker Agreement is essential when a regulated broker wishes to extend their business through appointed representatives or sub brokers in England and Wales. This document is crucial for ensuring regulatory compliance while enabling business expansion through authorized third parties. It covers key aspects such as scope of authority, compliance requirements, commission arrangements, and risk management procedures, all within the framework of FCA regulations and English law requirements.

Suggested Sections

1. Parties: Identification of the Principal Broker and Sub Broker, including registration details and FCA authorization numbers

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope: Terms of appointment and scope of authorized activities

5. Regulatory Compliance: FCA requirements and compliance obligations

6. Duties and Responsibilities: Specific obligations of both parties

7. Commission Structure: Payment terms and commission arrangements

8. Confidentiality: Protection of confidential information

9. Term and Termination: Duration and termination provisions

Optional Sections

1. Non-Compete Provisions: Restrictions on competitive activities - use when protecting business interests from competition

2. White Labeling: Terms for using principal broker's branding - use when sub-broker will use principal's brand

3. Training Requirements: Specific training obligations - use when ongoing training is part of the relationship

4. Technology Requirements: Use of specific systems or platforms - use when specific technology must be used

Suggested Schedules

1. Commission Schedule: Detailed breakdown of commission structures and calculations

2. Products Schedule: List of authorized products/services

3. Compliance Procedures: Detailed compliance requirements and procedures

4. Service Level Agreement: Performance metrics and service standards

5. Data Processing Agreement: GDPR-compliant data processing terms

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services
Insurance
Real Estate
Commodities

Relevant Teams

Legal
Compliance
Business Development
Finance
Risk Management
Operations

Relevant Roles

Compliance Officer
Chief Executive Officer
Head of Business Development
Legal Counsel
Risk Manager

Industries

Financial Services and Markets Act 2000 (FSMA): Primary legislation governing financial services regulation in the UK, establishing regulatory framework and requirements for financial activities

Financial Services Act 2012: Legislation that amended FSMA 2000, establishing the FCA and PRA as primary regulatory bodies

Financial Services and Markets Act 2000 (Regulated Activities) Order 2001: Defines which activities require FCA authorization and regulation

FCA Handbook: Comprehensive guide containing all FCA rules and guidance for regulated firms

FCA Conduct of Business Sourcebook (COBS): Detailed rules and guidance for conduct of business requirements for regulated firms

FCA Systems and Controls (SYSC): Requirements for firms' internal systems, controls, and organizational arrangements

FCA Principles for Businesses: Fundamental obligations of all regulated firms under the FCA regime

Money Laundering Regulations 2017: Regulations governing anti-money laundering and counter-terrorist financing requirements

Proceeds of Crime Act 2002: Legislation covering money laundering offenses and reporting requirements

UK General Data Protection Regulation: Post-Brexit data protection legislation governing the processing of personal data

Data Protection Act 2018: UK's implementation of data protection requirements, complementing UK GDPR

Unfair Contract Terms Act 1977: Legislation regulating unfair terms in contracts and limiting the extent to which liability can be excluded

Consumer Rights Act 2015: Protection for consumers in contracts with businesses, including unfair terms provisions

Employment Rights Act 1996: Legislation defining employment rights and status distinctions relevant for broker relationships

IR35 Legislation: Tax legislation concerning off-payroll working rules and employment status

Competition Act 1998: Legislation prohibiting anti-competitive behavior and agreements

Enterprise Act 2002: Framework for merger control and market investigations in the UK

Insurance Distribution Directive: EU-derived regulations governing insurance distribution activities, retained in UK law

MiFID II Requirements: EU-derived regulations for financial instruments markets, retained in UK law, governing securities trading and investment services

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Authors

Alex Denne

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