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  1. Point in time
    2019-12-20

CMCOB TP 1 Transitional Provisions

1(1)

(2)

Material to which the transitional provision applies

(3)

(4)

Transitional provision

(5)

Transitional provision: dates in force

(6)

Handbook provision coming into force

1

CMCOB 6.1.7R

R

In relation to an agreement entered into before 1 April 2019:

(1) the firm need not comply with CMCOB 6.1.7R until 1 July 2019; and;

(2) the reference in CMCOB 6.1.7R to an illustration or estimate provided under CMCOB 4.2.5R is to be treated as a reference to the most recent illustration or estimate of fees (if any) provided before 1 April 2019.

From 1 April 2019

1 April 2019

2

CMCOB 6.1.7R

G

The effect of TP 1.1 is that, where a firm has sufficient information from which it may reasonably estimate what its fee under an agreement entered into before 1 April 2019 will be, the firm must provide an estimate to the customer no later than 1 July 2019 unless that estimate is unchanged from the most recent estimate given before 1 April 2019.

3

CMCOB 7.2.4R to 7.2.10R

R

A firm need not comply with CMCOB 7.2.4R to 7.2.10R.

1 April 2019 to 31 July 2019

1 April 2019