1.

The firm's name and address.

2.

The firm's statutory status in accordance with GEN 4 Annex 1 (Statutory status disclosure).5

3.

If the firm (other than the operator of a regulated collective investment scheme) executed a transaction in a security as principal, that fact.4

4.

The customer's name or other designation and account number.

5.

A description of the designated investment, including the amount invested.

6.

Whether the transaction is a sale or purchase.

7.

The unit price at which the transaction was executed, and, if the unit price is averaged including any price set in accordance with COB 7.7.12 R (Price of allocation), a statement of that fact.4

8.

The date of the transaction.

9.

Either:

(a)

the time of the transaction; or

(b)

a statement that information about the time of the transaction will be supplied on request.

10.

The total consideration payable and the date on which it is due.

11.

Except if the firm is the operator of a collective investment scheme (subject to COB 8.1.17), the remuneration of the firm and that of any associate (unless that associate is not obliged to disclose it to the firm under this provision, as a result of the firm being its customer, or otherwise) in connection with the transaction, distinguishing:

(a)

the amount of any commission charged; and

(b)

the basis on which the commission has been determined, unless:

(i)

all commission charged to the customer has already been disclosed to him; or

(ii)

the basis has already been disclosed to him elsewhere; and4

(c)

if the firm or an associate acted as principal in executing the transaction, and the firm owes a duty of best execution to its customer, the amount of any mark-up or mark-down imposed by the firm or its associate.

12.

The amount of any fees, taxes or duties, unless included in remuneration mentioned in 11.

Note: If the transaction was for an intermediate customer, the firm need not identify separately the unit price and the remuneration of the firm and that of any associate in connection with the transaction, if the intermediate customer has requested a confirmation combining both of these items.

Where the firm or its associate has executed the customer order against its own book, the firm need not, when disclosing remuneration under COB 8.1.15, disclose in the confirmation any trading or dealing profit which is not a commission or mark-up or mark-down.2

If the transaction involves:

The confirmation should state:

1.

a conversion of currency;

the rate of exchange obtained;

2.

a firm receiving any payment or reward from another person in connection with the transaction;

unless a prior written statement to this effect has been made to the customer, the amount or basis of any payment or reward or the fact that this will be made available on request;

3.

the firm being remunerated for acting as an agent for the market counterparty to the transaction as well as acting as agent for the customer;

that fact;

4.

a right to receive interest on an investment (for example, in relation to a government or public security);

the number of days or amount of interest which the purchaser is required to pay for (or the vendor is entitled to receive) as part of the total consideration.5

5.

charges shared with another person (except employees);

unless a prior written statement to this effect has been made to the customer, the amount or basis of any shared charges, or the fact that this will be made available on request;

6.

a security which is not a packaged product or a readily realisable security and

how the unit price of the transaction was arrived at or a statement that such information is available upon request

(a)

the firm acted as a principal in executing the transaction with the customer;

(b)

there is no calculable mark-up or mark-down; and

(c)

the firm owes duty of best execution;5

7.

units in an unregulated collective investment scheme of which the firm or one of its associates is the operator;

the amount or percentage of the operator's initial charges included in the price of those units;

8.

the firm's or an associate'sremuneration being passed on by the firm to a third party as a reward for introducing the business;

the identity of the third party and the amounts passed on or the fact that details of such arrangements will be made available on request;

9.

any dividend or capitalisation or other right which has been declared, but which has not been paid, allotted or otherwise become effective in respect of the investment, and under the terms of the transaction the benefit of which will not pass to the purchaser.

that fact.

1.

If the firm is not the operator and the transaction was executed with the customer by the firm as principal, that fact.

2.

The name of the scheme and the type and number of units involved.

3.

The amount of:

(a)

the operator's initial charges (in cash or percentage terms), if any; and1

(b)

any charges (other than the initial charges) made by the firm to the customer in respect of the transaction and, unless such charges to the customer are made on the same basis, the basis on which the amount of the charges was determined.

4.

A statement that the price at which the transaction has been executed is on an historic price or forward price basis, as the case may be.

1.

The maturity, delivery or expiry date of the derivative.

2.

In the case of an option, a reference to the last exercise date, whether it can be exercised before maturity and the strike price.

3.

If the transaction involved, or will involve, the purchase of one currency with another, the rate of exchange involved or a statement that the rate will be supplied when the currency has been purchased, including the maturity or expiry date of any currency hedge, unless the currency hedge is separately reportable under COB 8.1.3.

4.

If the transaction closes out an open futures position, all essential details required in respect of each contract comprised in the open position and each contract by which it was closed out and the profit or loss to the customer arising out of closing out that position (a difference account).

1.

The date of exercise, and either the time of exercise or that the customer will be notified of that time on request.

2.

Whether the exercise creates a sale or purchase in the underlying asset.

3.

The strike price of the option (for a currency option, the rate of exchange will be the same as the strike price) and, if applicable, the total consideration from or to the customer.

Promptness

(1)

(a)

A periodic statement should be provided to a private customer within 25 business days after the end of the period to which the statement relates.

(b)

A periodic statement should be provided to a private customer within 10 business days after the end of the period to which the statement relates if, at the end of that period, the portfolio includes any uncovered open positions in contingent liability investments.

(c)

A firm whose sole permitted activity is venture capital business should (instead of (a) or (b)) provide a periodic statement to a private customer within 50 business days after the end of the period to which the statement relates.

(d)

Any periodic statement provided to an intermediate customer should be provided within such period as the intermediate customer has on his own initiative agreed with the firm as adequate.

Suitable intervals

(2)

A periodic statement should be provided:

(a)

six-monthly, to a private customer or an intermediate customer not subject to (2)(d), unless the customer's account or portfolio consists entirely of structured capital-at-risk products, in which case the periodic statement may be provided once in any period not exceeding 12 months;3

(b)

once in any other period not exceeding 12 months if the private customer has advised the firm in writing that he wishes to receive less frequent periodic statements than required by (a);

(c)

monthly if the customer's portfolio includes an uncovered open position in a contingent liability investment;

(d)

at such intervals as an intermediate customer has on his own initiative agreed with the firm as adequate.

Adequate information

(3)

A periodic statement should contain:

(a)

(i)

the information set out in COB 8.2.11 E;

(ii)

if applicable the additional information in COB 8.2.12 E, COB 8.2.13 E, COB 8.2.14 E, COB 8.2.15 E and COB 8.2.17 E (but the information set out in COB 8.2.17 E need only be provided once in any period not exceeding 12 months)4; and

(iii)

if a firm relies upon the exceptions in COB 8.1.6 to the requirement to provide confirmations, the information that would have been contained in confirmations complying with COB 8.1.3; or

(b)

information that a private customer habitually resident outside the United Kingdom, or an intermediate customer, has agreed that the firm should provide; or2

(c)

in the case of an OPS firm subject to COB 8.2.8 (3):

(i)

the information that would have been contained in a confirmation complying with COB 8.1.3, relating to the following classes of asset:

(a)

securities which are not readily realisable securities;

(b)

derivatives;

(c)

warrants;

(d)

land and buildings; and

(ii)

in relation to all other transactions not included in (i), a summary of the information that would have been contained in a confirmation complying with COB 8.1.3; this summary should contain sufficient information about the relevant transactions to enable an OPS trustee to determine whether it will be necessary to obtain more detailed information about the relevant transactions.

For example, the summary might disclose, for each asset class:

(a)

the number and value of transactions entered into for the portfolio;

(b)

any material portfolio changes;

(c)

whether a material number of changes were entered into in relation to a single entity and, if so, which ones;

(d)

the information required by item 11 and 12 of COB 8.1.15 E.

1

Contents and valueAs at the end of the period covered: the number, description and value of each designated investment held; the amount of cash held; and the total value of the portfolio.

2

Basis of valuationA statement of the basis on which the value of each designated investment has been calculated and, if applicable, a statement that the basis for valuing a particular designated investment has changed since the previous periodic statement. If any designated investments are shown in a currency other than the usual one used for valuation of the portfolio, the relevant currency exchange rates must be shown.

1

Details of any assets loaned or charged

A statement of which investments (if any) were at the closing date loaned to any third party and which investments (if any) were at that date charged to secure borrowings made on behalf of the portfolio; and

the aggregate of any interest payments made and income received during the account period in respect of loans or borrowings made during that period.

2

Transactions and changes in composition

Particulars of each transaction entered into for the portfolio during the period; and

the aggregate of money and particulars of all investments transferred into and out of the portfolio during the period; and

the aggregate of any interest payments (and, in the case of a cash deposit ISA, the interest rates applied during the period of account), together with the dates of their application and dividends or other benefits received by the firm for the portfolio during that period.

The particulars required may be disclosed in separate statements (excluding confirmations of transactions) issued to the customer during the period.

3

Charges and remuneration

If not previously advised in writing:

(a)

a statement of the aggregate charges of the firm and its associates; and

(b)

a statement of the amount (or, if provision of this information is not practicable, the basis) of any remuneration received by the firm or its associates or both from a third party in respect of the transactions entered into, or any other services provided, for the portfolio. (Firms should also note the requirements of COB 2.2.18 R (Periodic disclosure)).1

4

CAT standards

If the periodic statement relates to an ISA intended to be managed in accordance with CAT standards, a statement whether the relevant CAT standards have been adhered to throughout the period of account.

1

Changes in value

The aggregate of money transferred into and out of the portfolio during the valuation period.

2

Open positions

In relation to each open position in the account at the end of the account period, the unrealised profit or loss to the customer (before deducting or adding any commission which would be payable on closing out).

3

Closed positions

In relation to each transaction executed during the account period to close out a customer's position, the resulting profit or loss to the customer after deducting or adding any commission.

Note:

Instead of the specific detail required by item 2 and 3, the statement may show the net profit or loss in respect of the customer's overall position in each contract.

4

Aggregate of contents

The aggregate of each of the following in, or relating to, the customer's portfolio at the close of business on the valuation date:

(a)

cash;

(b)

collateral value;

(c)

management fees; and

(d)

commissions attributable to transactions during the period or a statement that this information has been separately disclosed in writing in earlier statements or confirmations to the customer.

5

Option account valuations in respect of each open option contained in the account on the valuation date stating:

(a)

the share, future, index or other investment involved;

(b)

the trade price and date for the opening transaction, unless the valuation statement follows the statement for the period in which the option was opened;

(c)

the market price of the contract; and

(d)

the exercise price of the contract.

Option account valuations may show an average trade price and market price in respect of an option series if the customer buys a number of contracts within the same series.

1

Significant holdings

If any asset is worth more than 5% of the value of the fund, it must be described and its percentage in value stated.

2

Unit-linked life policies (except where a firm is managing a broker fund on behalf of a single customer)

If the fund consists of unit-linked life policies, a comparison, over the account period and over the whole life of the fund, of the percentage change in the price of the units in the fund:

(a)

with the prices of units in the managed unit-linked pension fund of the long-term insurer (if the fund is dedicated to pension policies); or

(b)

with the prices of units in the managed unit-linked life fund of the long-term insurer (in any other case).

3

Price comparison

Unless the firm is managing a broker fund on behalf of a single customer, a comparison of the price of units in the fund or scheme with the published index or sector average stated in the product particulars.

4

Investment objectives and strategies

The current investment objectives and strategies including an indication as to whether or not either of these have changed since the previous report.

5

Benefits and rewards

The cash value of the benefits and rewards which the broker fund adviser and any associate have received directly or indirectly during the reporting period by way of remuneration which may be shown in aggregate or as applicable to each customer or both.

1

Investment objectives

A statement of any investment objectives governing the mandate of the portfolio of the occupational pension scheme as at the closing and starting date.

2

Details of any assets loaned or charged

(a)

a summary of any investments that were, at the closing date, lent to a third party and any investments that were at that date charged to secure borrowings made on behalf of the portfolio; and

(b)

the aggregate of any interest payments made and income received during the account period in respect of loans or borrowings made during that period and a comparison with the previous period.

3

Transactions and changes in composition

(a)

a summary of the transactions entered into for the portfolio during the period and a comparison with the previous period;

(b)

the aggregate of money and a summary of all investments transferred into and out of the portfolio during the period; and

(c)

the aggregate of any interest payments, dividends and other benefits received by the firm for the portfolio during that period and a comparison with the previous period.

4

Charges and remuneration

If not previously advised in writing, a statement for the period of account:

(a)

of the aggregate charges of the firm and its associates; and

(b)

of any remuneration received by the firm or its associates or both from a third party in respect of the transactions entered into, or any other services provided, for the portfolio.

5

Movement in value of portfolio

A statement of the difference between the value of the portfolio at the closing date of the period of account and its value at the starting date, having regard, during the period of account, to:

(a)

the aggregate of assets received from the occupational pension scheme and added to the portfolio;

(b)

the aggregate of the value of assets transferred, or of amounts paid, to the customer;

(c)

the aggregate income received on behalf of the customer in respect of the portfolio; and

(d)

the aggregate of realised and unrealised profits or gains and losses attributable to the assets comprised in the portfolio.

1

Statement of 'snap shot' maturity value

A statement of the maturity value of the investment, on the assumption that the relevant index, indices, 'basket' of selected stocks, or other factor remained at the level they were on the closing date of the period covered.

2

Changes in maturity value

A statement of the levels of the relevant index, indices, 'basket' of selected stocks, or other factor, at which the maturity value of the investment would be less than the amount of the initial capital invested, and an indication of by how much less the maturity value would be.

3

Risk warning

A warning that the value of the relevant index, indices, 'basket' of selected stocks, or other factor can go up or down. 3