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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.

private customer

    (for the purposes only of COBS TP 1 (Transitional Provisions in relation to Client Categorisation)):61

      1. (1) (except in COB 3, COB 4.2 and COB 6.4) subject to (h), a client who is not a market counterparty or an intermediate customer, including:22
        1. (a) an individual who is not a firm ;
        1. (b) an overseas individual who is not an overseas financial services institution;
        1. (c) [deleted]
        1. (d) (except for the purposes of DISP) a client when he is classified as a private customer in accordance with COB 4.1.14 R (Client classified as a private customer);
        1. 24(e) a person to whom a firm61 gives basic advice61;24
        1. (f) (in COB 6.1 to 6.5) where the regulated activity (except for a personal recommendation relating to a contribution to a CTF ) relates to a CTF and there is no registered contact , the person to whom the88 statement must be sent in accordance with Regulation 10 of the CTF Regulations;22
        1. (g) (in COB 6.7) where the regulated activity (except for a personal recommendation relating to a contribution to a CTF) relates to a CTF and there is no registered contact, the child, via the person to whom the88 statement must be sent in accordance with Regulation 10 of the CTF Regulations;22
        1. (h) a client who would otherwise be excluded as a market counterparty or intermediate customer if the client is within (e), (f) or (g);22
        but excluding a client , who would otherwise be a private customer:22
        1. (i) when he is classified as an intermediate customer in accordance with COB 4.1.9 R (Expert private customer classified as an intermediate customer); or22
        1. (ii) when the regulated activity relates to a CTF , any person other than (e), (f), (g) or (h).22
      1. (2) (in COB 3) a person in (1) or a person excluded under (1)(h)(ii) or a person who would be such a person if he were a client.22(in COB 4.2 and 6.1 to 6.5) a person in (1) and, in relation to the conclusion of a distance contract , a61 consumer 61 .18
      1. (3) (in COB 4.2 and 6.1 to 6.5) a person in (1) and, in relation to the conclusion of a distance contract, a61 consumer 61 .18135