FPCOB Sch 3 Right of action for damages
1If a “Yes” appears in the column headed “For private person?”, the rule may be actionable by a “private person” under section 138D (or, in certain circumstances, that person’s fiduciary or representative; see article 6(2) and (3)(c) of the Financial Services and Markets Act 2000 (Rights of Action) Regulations 2001 (SI 2001/2256)). A “Yes” in the column headed “Removed” indicates that the FCA has removed the right of action under section 138D(2) of the Act. If so, a reference to the rule in which it is removed is also given.
1The column headed “For other person?” indicates whether the rule may be actionable by a person other than a private person (or his fiduciary or representative) under article 6(2) and (3) of those Regulations. If so, an indication of the type of person by whom the rule may be actionable is given.
Rights of action under section 138D |
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Chapter |
Section/ Annex |
Paragraph |
For private person? |
Removed? |
Removed? |
|
Yes |
In part (Note 1) |
No |
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Any rule in FPCOB which prohibits an authorised person from seeking to make provision excluding or restricting any duty or liability |
Yes |
No |
Yes |
Any other person |
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The prudential rules for firms carrying on regulated funeral plan activity in FPCOB 15 |
No |
Yes (see FPCOB 15.11.1R) |
No |
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Yes |
No |
No |
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Notes |
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1. |
FPCOB 4.2.10R provides that if, in relation to a particular communication or financial promotion, a firm takes reasonable steps to ensure it complies with the fair, clear and not misleading rule, a contravention of that rule does not give rise to a right of action under section 138D of the Act. |