learn after lunch - fca conduct of business rules
TRANSCRIPT
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Learn after lunch –FCA Conduct of Business Rules
Nick Bamford APFSChartered Financial Planner
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Behaviour
COBS 2.1.1 (1) a firm must act with honesty, fairly and
professionally in accordance with the best interests of its
clients
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Type of Client
COBS 3.4.1 A retail client is a client who is not a professional
client or an eligible counter party
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Communication
COBS 4.2.1 (1) A firm must ensure that a communication or
a financial promotion is fair, clear and not misleading
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Remuneration
COBS 6.1 A4 (1) Only be remunerated for the personal
recommendation (and any other related services provided by the
firm) by adviser charges
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Status
COBS 6.2A 5 (1) A firm must disclose in writing to a retail client in good time before the
provision of services in respect of a personal recommendation
whether its advice is
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Status
COBS 6.2A 5 (1) A firm must disclose in writing to a retail client in good time before the
provision of services in respect of a personal recommendation
whether its advice is (1) Independent advice
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Suitability
COBS 9.2.1 (1) A firm must take reasonable steps to ensure
that a personal recommendation or a decision
to trade, is suitable for its clients