COBS 18.3 Corporate finance business
Corporate finance business - MiFID business
The provisions of COBS in the table do not apply in respect of any corporate finance business carried on by a firm which is MiFID or equivalent third country business:
COBS |
Description |
Adviser charging and remuneration |
|
Retail investment product provider requirements relating to adviser charging and remuneration |
|
Describing advice services |
|
Disclosing information about services, fees and commission - packaged products |
|
Disclosure of charges, remuneration and commission |
|
Suitability reports |
|
Special rules for providing basic advice on a stakeholder product |
|
Use of dealing commission |
|
Recording telephone conversations and electronic communications |
|
Guidance on contingent liability transaction |
|
Quotations for surrender values |
|
Life insurance contracts - communications to clients |
|
Information to be provided in accordance with COBS 16.2.1 R and 16.3 |
The provisions of COBS in the table are unlikely to be relevant to any corporate finance business carried on by a firm which is MiFID or equivalent third country business:
COBS |
Description |
Distance communications, except in relation to distance contracts concluded with consumers |
|
Insurance mediation |
|
Preparing product information |
|
Providing product information |
|
Cancellation, except cancellation and withdrawal rights in relation to distance contracts concluded with consumers |
|
Claims handling for long-term care insurance |
|
Trustee firms' regime |
|
Energy market activity and oil market activity |
|
Stock lending activity |
|
Pensions - supplementary provisions |
|
With-profits |
Corporate finance business - non-MiFID business1
1Only the provisions of COBS in the table apply to corporate finance business carried on by a firm which is not MiFID or equivalent third country business.
COBS |
Description |
Application |
|
Acting honestly, fairly and professionally |
|
Inducements |
|
Agent as client and reliance on others |
|
Client categorisation |
|
Communication to clients including financial promotions, except COBS 4.5 - COBS 4.111 |
|
The information and other requirements of the Distance Marketing Directive, but only in relation to distance contracts concluded with consumers |
|
E-commerce |
|
Personal account dealing |
|
Investment research |
|
Cancellation, but only in relation to distance contracts concluded with consumers |
COBS 15 (Cancellation) is likely to be of limited application to corporate finance business. Distance contracts concluded with consumers in the course of corporate finance business will be exempt from COBS 15 if the price of the financial service is dependent on fluctuations in the financial market outside the firm's control.