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  1. Point in time

COBS 11.1 Application

General application

COBS 11.1.1RRP

1This chapter3 applies 3to a firm.3

  1. (1)


  2. (2)


COBS 11.1.2RRP

Save as may be provided in the relevant sections, in6 this chapter, provisions marked “UK”7 apply to a firm which is not a MiFID investment firm3 as if they were rules.

COBS 11.1.3RRP



Application of section on personal account dealing

COBS 11.1.4RRP

The section on personal account dealing applies to the designated investment business of a firm in relation to activities carried on from an establishment in the United Kingdom.

COBS 11.1.5GRP



Disapplication of best execution for non-financial spreads

COBS 11.1.6RRP

3The section on best execution (COBS 11.2A6) does not apply to a firm when:

  1. (1)

    executing orders: or

  2. (2)

    placing orders with other entities for execution: or

  3. (3)

    transmitting orders to other entities for execution;

in relation to a spread-bet which is not a financial instrument, where the firm has not made a personal recommendation in relation to that spread-bet.

Disapplication of best execution to CIS operators purchasing or selling own units4

COBS 11.1.7RRP

4The section on best execution (COBS 11.2 or COBS 11.2B, as applicable6) does not apply to a firm when, acting in the capacity of operator of a regulated collective investment scheme, it purchases or sells units in that scheme.