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You are viewing the version of the document as on 2022-01-01.

Timeline guidance

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CONRED App 1.1 Key definitions

[Note: the following definitions relevant to CONRED are extracted from the Glossary.]

CF Arch cru payment scheme

the requirements included in the permissions of Capita Financial Managers Limited, BNY Mellon Trust & Depository (UK) Limited and HSBC Bank plc at their request under what was then (but is no longer) section 44 of the Act on 31 August 2011.



where the personal recommendation was made on or before 31 October 2007, a private customer for the purposes of COB 2 and COB 5, as defined by the version of the Handbook then in force; or


where the personal recommendation was made on or after 1 November 2007, a retail client in accordance with COBS 3.4.1 R.



an authorised person; or


a person who was an authorised person when the relevant activity took place but has since ceased to be one.

personal recommendation

a recommendation which is advice on investments and:


where given on or before 31 October 2007, was given to a specific person; or


where given on or after 1 November 2007, was presented as suitable for the person to whom the recommendation was made, or was based on a consideration of the circumstances of that person, other than a recommendation issued exclusively through distribution channels or to the public.