1When a firm prepares documents or information in accordance with this chapter, the firm should consider the rules on providing product information (COBS 14). Those rules require a firm to provide the product information in a durable medium or via a website that meets the website conditions (if the website is not a durable medium).
[Note: article 29(4) of the MiFID implementing Directive]
take into account its target market's understanding of financial services when preparing documents and information;
present information in a logical order;
use clear and descriptive headings, and where appropriate, cross references and sub-headings to aid navigation;
where possible, use plain language and avoid the use of jargon, unfamiliar or technical language;
if it is necessary to use jargon, unfamiliar or technical language, provide accompanying explanations in plain language;
use short sentences;
concentrate on key product information, cross reference to background information, detailed explanations and information about how to apply for the product; and
avoid duplication and unnecessary disclaimers;
taking into account the means of printing or display, consider whether the following can be used to improve the client's understanding of the product, in particular:
design devices such as side annotations, shading, colour, bulleted lists, tables and graphics; and
the type size, line width, line spacing, and use of white space; and5
(if it is a key features document or a key features illustration which does not form an integral part of the key features document) 2include the ‘Key facts’ logo in a prominent position at the top of the document; and
“The Financial Conduct Authority is a financial services regulator. It requires us, [provider name], to give you this important information to help you to decide whether our [product name] is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference”.