Related provisions for MCOB 3A.1.17

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PRIN 3.4.3GRP
1(1) COBS 3 (Client categorisation)2 applies to a firm intending to conduct, or conducting, designated investment business 2(other than giving basic advice),8ancillary activities relating to designated investment business and to a firm intending to carry on, or carrying on, insurance risk transformation and activities directly arising from insurance risk transformation8. Any client categorisation2established in relation to such business will be applicable for the purposes of Principles
PRIN 3.4.3ARRP
(1) 6Paragraph (2) applies in relation to an individual who:(a) has provided, or is to provide, a guarantee or an indemnity (or both) in relation to a regulated credit agreement, a regulated consumer hire agreement or a P2P agreement; and (b) is not the borrower or the hirer.(2) If the individual is not a customer, they are to be treated as if they were a customer for the purposes of Principles 6 and 7.(3) For the purposes of this rule, a guarantee does not include a legal or
PRIN 1.2.1GRP
Principles 6 (Customers' interests), 7 (Communications with clients), 8 (Conflicts of interest), 9 (Customers: relationships of trust) and 10 (Clients' assets) impose requirements on firms expressly in relation to their clients or customers. These requirements depend, in part, on the characteristics of the client or customer concerned. This is because what is "due regard" (in Principles 6 and 7), "fairly" (in Principles 6 and 8), "clear, fair and not misleading" (in Principle
PRIN 1.2.2GRP
Principles 6, 8 and 9 and parts of Principle 7, as qualified by PRIN 3.4.1 R, apply only in relation to customers8. The approach that a firm (other than for credit-related regulated activities in relation to which client categorisation does not apply)5 needs to take regarding categorisation3of clients into customers and eligible counterparties4 will depend on whether the firm is carrying on designated investment business, insurance risk transformation and activities directly arising
PRIN 1.2.3GRP
1(1) In relation to the carrying on of designated investment business, insurance risk transformation and activities directly arising from insurance risk transformation9, a firm's categorisation of a client under the COBS client categorisation chapter (COBS 3) will be applicable for the purposes of Principles 6, 7, 8 and 9.33(1AA) In relation to the carrying on of insurance risk transformation and activities directly arising from insurance risk transformation, the COBS client categorisation
PRIN 4.1.2GRP
Under PRIN 3.3.1 R, the territorial application of a number of Principles to a UK MiFID investment firm is extended to the extent that another applicable rule or EU regulation6 which is relevant to an activity has a wider territorial scope. Under PRIN 3.1.1 R, the territorial application of a number of Principles to an EEAMiFID investment firm is narrowed to the extent that responsibility for the matter in question is reserved to the firm'sHome State regulator. These modifications
PRIN 4.1.4GRP
(1) Certain requirements under MiFID are disapplied for:(a) eligible counterparty business;(b) transactions concluded under the rules governing a multilateral trading facility between its members or participants or between the multilateral trading facility and its members or participants in relation to the use of the multilateral trading facility;(c) transactions concluded on a regulated market between its members or participants.(2) Under PRIN 3.1.6 R, these disapplications may
COBS 6.1E.2GRP
A2platform service provider should pay due regard to its obligations under Principle 6 (Customers’ interests), Principle 7 (Communications with clients) and the client's best interests rule, and ensure that it presents retail investment products without bias.2232
MCOB 6.2.1GRP
(1) MCOB 6 amplifies Principle 6 and Principle 7. The purpose of MCOB 6 is to ensure that a customer receives a clear offer document to enable him to check the features and price of thehome finance transaction1 before he enters into it. The offer document should include an updated and suitably adapted illustration (for a regulated mortgage contract) or financial information statement (for a home purchase plan)1 so that the customer can compare it with the one1 he received before
PRIN 2.1.1RRP
The Principles1 IntegrityA firm must conduct its business with integrity.2 Skill, care and diligenceA firm must conduct its business with due skill, care and diligence.3 Management and controlA firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems.4 Financial prudenceA firm must maintain adequate financial resources.5 Market conductA firm must observe proper standards of market conduct.6 Customers'
MCOB 6A.1.3GRP
MCOB 6A amplifies Principle 6 and Principle 7. The purpose of MCOB 6A is to ensure that a customer receives a clear offer document to enable them to check the features and price of the MCD regulated mortgage contract before they enter into it.
MCOB 5A.1.2GRP
(1) MCOB 5A amplifies Principle 6 and Principle 7.(2) The purpose of MCOB 5A is to ensure that, before a consumer submits an application for a particular MCD regulated mortgage contract, they are supplied with information that makes clear: (a) its features, any linked deposits, any linked borrowing and any tied products; and (b) the price that the consumer will be required to pay under that contract, to enable the consumer to make a well-informed purchasing decision.(3) MCOB 5A
MCOB 7.2.1GRP
(1) This chapter amplifies Principle 6 and Principle 7. 2(1A) 2This chapter requires information to be supplied to customers at the start of a2regulated mortgage contract to enable them to check that the regulated mortgage contract has been set up in accordance with their requirements and to notify them of the first and subsequent payments.2(2) Where a firm provides services to a customer in relation to a further advance, rate switch, or addition or removal of a party to a regulated
MCOB 4.2.1GRP
(1) This chapter amplifies Principle 6 (Customers' interests), Principle 7 (Communications with clients) and Principle 9 (Customers: relationships of trust). 1(2) The purpose of this chapter is to ensure that:(a) customers are adequately informed about the range2 of home finance transactions available from firms and the basis of their remuneration;21212(b) where advice is given, it is suitable for the customer.2(c) 2the firm provides advice whenever it makes a sale during which
PRIN 3.3.1RRP
Territorial application of the PrinciplesPrincipleTerritorial applicationPrinciples1, 2 and 3in a prudential context, apply with respect to activities wherever they are carried on; otherwise, apply with respect to activities carried on from an establishment maintained by the firm (or its appointed representative) in the United Kingdom unless another applicable rule or EU regulation5which is relevant to the activity has a wider territorial scope, in which case the Principle applies
MCOB 8.2.2GRP
(1) 2This chapter amplifies Principle 6 (Customers' interests), Principle 7 (Communications with clients) and Principle 9 (Customers: relationships of trust). (2) The purpose of this chapter is to ensure that: (a) customers are adequately informed about the nature of the service they may receive from a firm in relation to equity release transactions. In particular firms need to make clear to customers the range of equity release transactions available from them and the basis of
CONC 8.10.4GRP
It is likely to be a contravention of the Principles, for example Principles 6 and Principle 7, where a firm:(1) claims in a communication to a customer to be able to remove negative but accurate entries from a customer's credit file, but where the customer enquires about this service the customer is offered instead the firm's service as a lender or a credit broker; or (2) fails to inform a customer that a credit reference agency will not respond to the firm taking steps in relation
MCOB 12.7.1GRP
1The FCA believes that Principle 7 requires charges imposed by a firm on customers to be transparent and that imposing unfair or excessive charges is inconsistent with Principle 6. Note: A firm should also have regard to its obligations under the Unfair Terms Regulations (for contracts entered into before 1 October 2015) or the CRA2and may find material on the FCA website concerning the FCA consumer protection powers useful.
MCOB 5.2.1GRP
(1) MCOB 5 amplifies Principle 6 and Principle 7.1(2) The purpose of MCOB 5 is to ensure that, before a customer submits an application for a particular home finance transaction1, he is supplied with information that makes clear:1(a) (in relation to a regulated mortgage contract) its features, any linked deposits, any linked borrowing and any tied products; and11(b) the price that the customer will be required to pay under that home finance transaction, 1to enable the customer
COBS 19.7.5GRP
This section amplifies Principles 6 and 7, but does not exhaust or restrict what they require. A firm will, in any event, need to ensure that its sales processes are consistent with the Principles and other rules.
CONC 8.9.1GRP
The Principles (in particular Principle 6 and Principle 7) apply to actions of a firm dealing with a customer who has been referred to it through a lead generator. For example, where a firm acts on a sales lead and knows or ought to know that the lead generator is using misleading information, advice or actions to obtain a customer's personal data is likely to amount to a breach by the firm of Principle 6 and Principle 7.
COBS 19.4.15GRP
4A firm should ensure that when it makes any communication with a retail client concerned with the client’s options to access their pension savings it has regard to the fair, clear and not misleading rule, the client’s best interests rule and Principles 6 and 7. In particular a firm should:(1) refer to the contents of the Money Advice Service fact sheet to identify what information might assist the client to understand their options;(2) consider whether it needs to include or