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MCOB 4A.3 Record of recommendation

MCOB 4A.3.1R

An MCD mortgage adviser, or any other firm that is an MCD mortgage lender or an MCD mortgage arranger that provides advisory services within the meaning of article 4(21) of the MCD, must, for the particular transaction, explicitly inform the consumer whether advisory services are being, or can be, provided to the consumer.

[Note: article 22(1) of the MCD]

MCOB 4A.3.2R

Where an MCD mortgage adviser, or any other firm that is an MCD mortgage lender or an MCD mortgage arranger that provides advisory services within the meaning of article 4(21) of the MCD, advises on a transaction relating to an MCD regulated mortgage contract, it must give the consumer a record on paper, or in another durable medium, of the recommendation provided.

[Note: article 22(3)(e) of the MCD]

MCOB 4A.3.3G

The record in MCOB 4A.3.2 R may consist of the completed ESIS or illustration.