Information you need from investors when they apply for an ISA

Requirements

An ISA is a scheme of investment managed in accordance with the ISA regulations by the ISA manager under terms agreed between the ISA manager and the investor ( ISA terms and conditions) or their nominee. ‘Nominee’ has its everyday meaning — a person or entity who is named or appointed by another (the nominator) to act on its behalf in a limited capacity or in a specific matter in accordance with any legal or regulatory requirements. ISA managers’ ISA terms and conditions must specify in writing that: the ISA investments will be, and must remain in, the beneficial ownership of the investor and must not be used as security for a loan except for cash deposits or National Savings products in cash ISAs , insurance policies held with an insurer who is also the ISA manager, and innovative finance ISA investments, the title to the ISA investments will be registered: in the name of the ISA manager in the name of the ISA manager’s nominee jointly in the name of the ISA manager and the investor