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Status: You are viewing the version of the handbook as on 2011-04-29.

MCOB 3.5 General

MCOB 3.5.1G

[deleted - see application tables in MCOB 3.2]2

MCOB 3.5.2G



Other regulations and guidelines

MCOB 3.5.3G

A firm communicating a financial promotion2 may also be subject to other regulations and guidelines, outside the remit of the FSA, such as:

  1. (1)

    the codes issued from time to time by the Advertising Standards Authority, the Independent Television Commission and the Radio Authority;

  2. (2)

    regulations of any overseas regulator (where relevant) if the firm intends to market from the United Kingdom into any other country;

  3. (3)

    the Privacy and Electronic Communications (EC Directive) Regulations 2003

  4. (4)

    the Timeshare Act 1992, as amended by the Timeshare Regulations 1997 (SI 1997/1081); and

  5. (5)

    the Consumer Protection from Unfair Trading Regulations 2008 (SI 2008/1277).3


'Real time' and 'non-real time' qualifying credit promotions

MCOB 3.5.4G

This chapter draws a distinction between real time and non-real time financial promotions2. Guidance on the meaning of those expressions, which are based upon article 7 of the Financial Promotion Order, is contained in PERG 8.10.2G1 (Real time v. non-real time promotions).

MCOB 3.5.5R
  1. (1)

    A'real time financial promotion'2 is a financial promotion2 which is communicated in the course of a personal visit, telephone conversation or other interactive dialogue.

  2. (2)

    A'non-real time financial promotion'2 is a financial promotion2 that is not a real time financial promotion2. It includes a financial promotion2 made by letter, e-mail or contained in a newspaper, journal, magazine, other periodical publication, website, television or radio programme, or teletext service.

  3. (3)

    The following are to be regarded as indications that a financial promotion2 is a non-real time financial promotion2:

    1. (a)

      the financial promotion2 is communicated to more than one person in identical terms (save for details of the recipient's identity);

    2. (b)

      the financial promotion2 is communicated by way of a system which in the normal course constitutes or creates a record of the communication which is available to the recipient to refer to at a later time; and

    3. (c)

      the financial promotion2 is communicated by way of a system which in the normal course does not enable or require the recipient to respond immediately to it.


Meaning of 'made', 'directed at' and 'recipient' in MCOB 3

MCOB 3.5.6R

(In accordance with article 6 of the Financial Promotion Order (Interpretation: communications)) any reference in this chapter to:

  1. (1)

    a communication being made to another person is a reference to a communication being addressed, whether verbally or in legible form, to a particular person or persons (for example, where it is contained in a telephone call or letter);

  2. (2)

    a communication being directed at persons is a reference to a communication being addressed to persons generally (for example where it is contained in a television broadcast or website); and

  3. (3)

    a 'recipient' of a communication is the person to whom the communication is made or, in the case of a non-real time financial promotion2 which is directed at persons generally, any person who reads or hears the communication.