4other than in relation to its MiFID, equivalent third country or optional exemption business.
4COBS 9A contains suitability requirements which apply in respect of a firm’s MiFID, equivalent third country or optional exemption business involving the provision of investment advice or portfolio management.
3This chapter does not apply to a firm which manages investments when that firm takes a decision to trade for a client and that decision relates to a P2P agreement. This is because the regulated activity of managing investments does not extend to the management of assets where those assets are P2P agreements.
The effect of these application rules and the fact that the Insurance Mediation Directive does not apply to an insurer (unless it is involved in mediation activities) is that this chapter does not apply to an insurer when it is making a personal recommendation to a professional client to take out a life policy.