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Important investment information from Midlands Funds Management for the Midlands Smarter PIE Fund, helping you make informed decisions.
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What is replacement product disclosure statement?
A replacement product disclosure statement is a document that provides detailed information about a financial product being offered as a replacement for an existing financial product, ensuring that consumers are fully informed about the implications of switching products.
Who is required to file replacement product disclosure statement?
Financial institutions and product providers that offer replacement financial products must file a replacement product disclosure statement when a client is transitioning from one product to another.
How to fill out replacement product disclosure statement?
To fill out a replacement product disclosure statement, providers must include detailed information about both the existing product and the new product, including features, fees, benefits, and potential risks associated with the change.
What is the purpose of replacement product disclosure statement?
The purpose of the replacement product disclosure statement is to ensure that consumers receive clear and comprehensive information to make informed decisions regarding the replacement of their financial products.
What information must be reported on replacement product disclosure statement?
Information that must be reported includes product features, costs, benefits, risks, comparatives between old and new products, and any potential penalties for early withdrawal or switching.
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