The purpose of ICOB 2.2.3 R is to restate, in slightly amended form, and as a separate rule, the part of Principle 7 (Communications with clients) that relates to communication of information. This enables a customer, who is a private person, to bring an action for damages under section 150 of the Act (Contravention of rules) to recover loss resulting from a firm referred to in ICOB 2.1.1 R communicating information in the course of regulated activities in a way that is not clear or fair or that is misleading.
A planned upgrade will take place on 16/05/2024 between 17:00 BST and 19:00 BST. During this time, some features that require authentication may be unavailable.