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COBS 2.2A Information disclosure before providing services (MiFID provisions)

Application

COBS 2.2A.1R

1This section applies to a firm in relation to its MiFID, equivalent third country or optional exemption business.

Information disclosure in good time

COBS 2.2A.2R
  1. (1)

    A firm must provide appropriate information in good time to a client with regard to:

    1. (a)

      the firm and its services;

    2. (b)

      the financial instruments and proposed investment strategies;

    3. (c)

      execution venues; and

    4. (d)

      all costs and related charges.

[Note: article 24(4) of MiFID]

  1. (2)

    That information may be provided in a standardised format.

COBS 2.2A.3R
  1. (1)

    A firm must provide the information required by this section in a comprehensible form in such a manner that a client is reasonably able to understand the nature and risks of the investment service and of the specific type of financial instrument that is being offered and, consequently, to take investment decisions on an informed basis.

  2. (2)

    That information may be provided in a standardised format.

[Note: article 24(5) of MiFID]

Related rules

COBS 2.2A.4G

A firm to which the rule on providing appropriate information (COBS 2.2A.2R) applies should also consider the rules on disclosing information about a firm, its services, costs and associated charges and financial instruments in COBS 6.1ZA and COBS 14.3A.

Disclosure of commitment to the Financial Reporting Council’s Stewardship Code

COBS 2.2A.5R

A firm must comply with the rule in COBS 2.2.3R (Disclosure of commitment to the Financial Reporting Council’s Stewardship Code).