Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

ICOBS 2.6 Distribution of connected contracts through exempt persons

ICOBS 2.6.1R
  1. (1)

    1Where an insurance distributor is distributing through a person relying on the connected contracts exemption in article 72B of the Regulated Activities Order, the insurance distributor must ensure that the requirements in (2) are met.

  2. (2)

    The requirements referred to in (1) are:

    1. (a)

      SYSC 19F.2 (Remuneration and insurance distribution activities);

    2. (b)

      ICOBS 2.2.2R and ICOBS 2.2.2AR (Clear, fair and not misleading rule and marketing communications);

    3. (c)

      ICOBS 2.5.-1R (Customer’s best interests);

    4. (d)

      ICOBS 4.1.2R(1)(a) and (c) (Status disclosure: general information provided by insurance intermediaries or insurers);

    5. (e)

      ICOBS 5.2 (Demands and needs);

    6. (f)

      ICOBS 6.1.5R(4) (Ensuring customers can make an informed decision: the appropriate information rule);

    7. (g)

      ICOBS 6.1.10AR (How must IPID information be provided?) (see also ICOBS 6.1.10BG); and

    8. (h)

      ICOBS 6A.3 (Cross-selling).

[Note: article 1(4) of the IDD]

ICOBS 2.6.2G

1To comply with the relevant chapter of SYSC or Principle 3, an insurance distributor will need to have appropriate arrangements in place to ensure compliance with ICOBS 2.6.1R.