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 12.1 Purpose and application


COBS 12.1.1GRP

1The purpose of this chapter is to:2

  1. (1)

    2set out specific requirements 2relating to the production and dissemination of investment research and non-independent research; and

  2. (2)

    3provide guidance on matters in the 3Market Abuse Regulation relating to the disclosures to be made in, and about, 3investment recommendations.


Application: Who?

COBS 12.1.2RRP

This chapter applies 2to a firm.2

  1. (1)


  2. (2)


Application: Where?

COBS 12.1.3GRP