Related provisions for COBS 20.2.34

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COBS 20.2.1GRP
With-profits business, by virtue of its nature and the extent of discretion applied by firms in its operation, involves numerous potential conflicts of interest that might give rise to the unfair treatment of policyholders. The rules in this section address specific situations where the risk may be particularly acute. However, a firm should give careful consideration to any aspect of its operating practice that has a bearing on the interests of its with-profits policyholders to
COBS 20.2.25RRP
A firm may pay compensation or redress due to a policyholder, or former policyholder:(1) from assets attributable to shareholders, whether or not they are held within a long-term insurance fund; or(2) from its inherited estate (if any); or(3) from assets that would otherwise be attributable to asset shares, if, in the reasonable opinion of the firm'sgoverning body, that compensation or redress cannot be paid from the assets in (1) or (2), or from any other source.
COBS 20.2.49RRP
A firm must ensure that every policyholder that may be affected by the proposed reattribution is sent appropriate and timely information about:(1) the reattribution process, including the role of the policyholder advocate, the independent expert or reattribution expert, as the case may be, and other individuals appointed to perform particular functions;(2) the reattribution proposals and how they affect the relevant policyholders, including an explanation of any benefits they