Related provisions for COBS 11.4.4
101 - 118 of 118 items.
Firms should note that the operator of an ICVC when it is undertaking scheme management activity will be subject to:3(1) 3COBS 18.5.2R if the operator is a small authorised UK AIFM; or(2) 3COBS 18.5A.3R if the operator is a full-scope UK AIFM or an incoming EEA AIFM branch; or(3) 3COBS 18.5B.2R if the operator is a UCITS management company.
A1firm is required to keep orderly records of its business and internal organisation, including all services and transactions undertaken by it.1 The records may be expected to include the client information a firm obtains to assess appropriateness and should be adequate to indicate what the assessment was. 11
This chapter requires a firm to allow a client to request re-categorisation as a client that benefits from a higher degree of protection (see COBS 3.7.1 R). A firm must therefore notify a client that is categorised as a professional client or an eligible counterparty of its right to request a different categorisation whether or not the firm will agree to such requests. However, a firm need only notify a client of a right to request a different categorisation involving a lower
The provisions of COBS in the table do not apply in relation to any stock lending activity carried on by a firm3:COBSSubject16.1AAdviser charging and remuneration16.1BRetail investment product provider requirements relating to adviser charging and remunerationCOBS 6.2B31Describing advice services226.4Disclosure of charges, remuneration and commission9.4Suitability reports9.6Special rules for providing basic advice on a stakeholder product33COBS 16A.4.53Guidance on contingent liability
The provisions of COBS in the table are unlikely to be relevant in relation to any stock lending activity carried on by a firm3:COBSDescription5Distance communications, except in relation to distance contracts concluded with consumers7Insurance mediation13Preparing product information14.2Providing product information 15Cancellation, except cancellation and withdrawal rights in relation to distance contracts concluded with consumers17Claims handling for long-term care insurance18.1Trustee
2To ensure that a firm pays due regard to the information needs of its clients, and communicates information to them in a way which is clear, fair and not misleading with respect to the activity of issuing electronic money, a firm must ensure that, in good time before the firm issues electronic money to a person, it has been communicated to that person on paper or in another durable medium that the compensation scheme does not cover claims made in connection with issuing electronic
(1) When a firm sells, personally recommends or arranges1 the payment of an AVC contribution by a member of an occupational pension scheme to be secured by a packaged product purchased by the scheme trustees, it must give the trustees sufficient information to pass to the relevant member for that member to be able to make informed comparisons between the AVC and any alternative personal pension schemes and stakeholder pension schemes available.1(2) This rule applies to an AVC
Where an OPS firm conducts OPS activity and is obliged to provide a periodic statement, the periodic statement must contain the information in the table below.Information to be included in a periodic statement provided by an OPS firm conducting OPS activity(1)Investment objectives A statement of any investment objectives governing the mandate of the portfolio of the occupational pension scheme as at the closing and starting date of the periodic statement. (2)Details of any asset
(1) A firm must make an adequate record of any financial promotion it communicates or approves, other than a financial promotion made in the course of a personal visit, telephone conversation or other interactive dialogue.(2) For a telemarketing campaign, a firm must make an adequate record of copies of any scripts used.(2A) If a firmcommunicates or approves an invitation or inducement to participate in, acquire, or underwrite a non-mainstream pooled investment which is addressed
1A firm must make appropriate records to demonstrate compliance with the rules in this sourcebook and keep them for the following periods after an employee stops carrying on the activity:(1) at least 5 years for MiFID business;(2) 3 years for non-MiFID business; and(3) indefinitely for a pension transfer specialist.[Note: article 9(4) of the MCD]2
When a long-term insurer receives any indication that a retail client wishes to surrender a life policy which is of the type that may be traded on an existing secondary market for life policies, it must, before accepting a surrender, make the policyholder aware that he may be able to sell his policy instead, how he may do so and that there may be financial benefits in doing so.
1This chapter is relevant to a firm that enters into a contract cancellable under this chapter. In summary, this means it is relevant to:(1) most providers of retail financial products that are based on designated investments; and2(2) firms that enter into distance contracts with consumers that relate to designated investment business; and32(3) firms that enter into distance contracts the making or performance of which by the firm constitutes, or is part of, the activity of issuing
1In this chapter:(1) 'retail client' includes the trustee or operator of a stakeholder pension scheme or personal pension scheme and the trustee of a money-purchase occupational pension scheme; and(2) 3(except in relation to the requirements under the PRIIPs Regulation) ‘sell’ includes ‘sell, personally recommend or arrange the sale of’ in relation to a designated investment and equivalent activities in relation to a cash-deposit ISA, cash-only lifetime ISA2 and cash-deposit
(1) A firm must ensure that a financial promotion addressed to a client is clearly identifiable as such.[Note: article 24(3)4 of MiFID and article 77 of the UCITS Directive]3(2) If2 a financial promotion relates to a2firm'sMiFID, equivalent third country or optional exemption business4, this rule does not apply to the extent that the2financial promotion is a third party prospectus.2(3) If2 a financial promotion relates2 to a2firm's business that is not 2MiFID or equivalent third