5th May 2020
MoneyInfo: e-signatures – it’s about time
Documents signed electronically - even when a statutory requirement for a signature predates the digital age - have legal force, the Law Commission says to clear up any lingering doubts over the issue.
Law Commission confirms electronic signatures are legally valid
The commission states that in 'most cases', electronic signatures can be used as a viable alternative to handwritten ones.
The main exception is where a signature requires witnessing such as is the case with a will. Very little everyday business of an adviser firm requires a document to be witnessed so in practise most transactions can be done via e-signature.
A recent FCA statement on the use of e-signatures by adviser firms states that -
- The validity of electronic signatures is a matter of law and
- our rules do not prevent firms from using electronic signatures in agreements and
- that firms may use electronic signatures for all interactions with the FCA.
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