When a life assurance company is providing advice to a client on PRSAs, it must comply with the:

• A. PRSA Mediation Regulations.
• B. Consumer Protection Code.
• C. MiFID Regulations.
• D. Code of Conduct for Life Assurance Companies.

Answer: (B)

Providing advice on PRSAs is governed by standards that protect consumers in financial services. The Consumer Protection Code sets the rules for how advisers must behave with clients, including presenting clear information, assessing suitability, explaining features, charges, and risks, and keeping proper records. Because PRSAs are consumer-facing savings products, this code directly applies to the advice given to the client.

The other options aren’t the primary framework for this scenario. Mediation regulations relate to resolving disputes about PRSAs after the fact, not the day-to-day advice process. MiFID regulations apply to investment services and products, which isn’t the baseline framework for PRSA advice in this context. The industry code for life assurance companies exists, but the CPC provides the overarching consumer protections that apply to advising clients on PRSAs.