Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

COBS 10.1 Application

COBS 10.1.1RRP

[deleted]3

1
COBS 10.1.2RRP
234
  1. (1)

    5This chapter applies to a firm which arranges or deals in relation to a non-readily realisable security, speculative illiquid security, derivative or5 warrant with or for a retail client, other than in the course of MiFID or equivalent third country business, or facilitates a retail client becoming a lender under a P2P agreement and the firm is aware, or ought reasonably to be aware, that the application or order is in response to a direct offer financial promotion.

  2. (2)

    5Where a rule in this chapter applies to a firm which arranges or deals in relation to a speculative illiquid security, the rule also applies to:

    1. (a)

      a TP firm (to the extent that the rule does not already apply to such a TP firm as a result of GEN 2.2.26R); and

    2. (b)

      a Gibraltar-based firm (having the same meaning as in the Gibraltar Order) to the extent that the rule does not already apply to such a Gibraltar-based firm as a result of GEN 2.3.1R).

COBS 10.1.3RRP

[deleted]3

Related rules

COBS 10.1.4GRP

A firm that is carrying on a regulated activity on a non-advised basis, whether or not the rules in this chapter apply to its activities, should also consider whether other rules in COBS apply.3