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Status: You are viewing the version of the handbook as on 2018-08-15.

MCOB 4A.3 Record of recommendation

MCOB 4A.3.1RRP

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.3.2RRP

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.3.3GRP

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