BCOBS 2.1 Purpose and Application: Who and what?
1 Principle 6 requires a firm to pay due regard to the interests of its customers and treat them fairly. Principle 7 requires a firm to pay due regard to the information needs of its clients and communicate information to them in a way which is clear, fair and not misleading. This chapter reinforces these requirements by requiring a firm to pay regard to the information needs of bankingcustomers when communicating with, or making a financial promotion to, them and to communicate information in a way that is clear, fair and not misleading.
In addition to the general application rule (BCOBS 1.1.1 R), this chapter applies to the communication, or approval for communication, to a person in the United Kingdom of a financial promotion of a retail banking service unless it can lawfully be communicated by an unauthorised person without approval.
This chapter applies to a firm:
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(1)
communicating with a bankingcustomer in relation to accepting deposits;
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(2)
communicating a financial promotion that is not an excluded communication; or
- (3)