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CRED 11.1 Introduction

Conduct of business1

CRED 11.1.1G

The Conduct of Business sourcebook (COBS)6 sets out rules and guidance for firms on how they should conduct their business with their customers.

CRED 11.1.2G
  1. (1)

    The rules and guidance set out in COBS6 mainly apply to designated investment businesses and have limited application to deposits.3

  2. (2)

    The only parts of COBS 6that set out rules and guidance on deposits, other than for a cash deposit ISA or cash deposit CTF6, are the6financial promotion rules 6and those relating to distance contracts for accepting deposits inCOBS 5 (Distance6 contracts) and COBS 15 6(Cancellation). Guidance on the way in which those requirements apply to credit unions is set out in CRED 11.4 (Entering into a distance contract for accepting deposits).31

CRED 11.1.3G

21The General provisions module of the Handbook (GEN) contains rules and guidance in GEN 4 (Statutory status disclosure) relating to disclosure of statutory status. These are summarised in CRED 11.3 (Statutory status disclosure).

CRED 11.1.4G

21The FSA logo is a registered mark, is subject to copyright and is the property of the FSA. Credit unions are permitted to use the FSA logo in limited circumstances. Any credit union which wishes to use the FSA logo should refer to GEN 5 (FSA logo).

Electronic commerce activities1

CRED 11.1.5G

COBS 5.2 (E-Commerce)6 contains rules applicable to a credit union which carries on an electronic commerce activity; that is, a credit union which accepts deposits, or carries on certain other activities, by way of an information society service.

CRED 11.1.6G



4 CTF providers

CRED 11.1.7G

4A credit union which acts as a CTF provider needs to be aware of the requirements relating to CTFs in COBS6, in particular COBS 6Chapters 3,4, and 9 Annex 1, 10, 13, 14 and 156 SUP 15, where relevant, IPRU(INV) Chapter 8 and 5MIPRU5.