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 6.1F Using a platform service for arranging and advising

Client’s best interests rule and using a platform service

COBS 6.1F.-1RRP

This section does not apply if the retail client is outside the United Kingdom.

COBS 6.1F.1RRP

1A firm which:

2
  1. (1)

    arranges for retail clients to buy retail investment products or makes personal recommendations to retail clients in relation to retail investment products; and2

    2
  2. (2)

    uses a platform service for that purpose;

must take reasonable steps to ensure that it uses a platform service which presents its retail investment products without bias.

COBS 6.1F.2GRP

When selecting and using a platform service for the purpose described in COBS 6.1F.1 R, a firm should be mindful of its duty to comply with the client's best interests rule and the rules3 on inducements (COBS 2.3.1 R, COBS 2.3A.5R and COBS 2.3A.15R3).