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You are viewing the version of the document as on 2023-01-31.

COBS 10A.1 Application

1[Note: ESMA has also issued guidelines under article 16(3) of the ESMA Regulation on complex debt instruments and structured deposits, 4 February 2016/ESMA/2015/1787 (EN)3.

Application

COBS 10A.1.1R

This chapter applies to a firm which:2

  1. (1)

    provides investment services in the course of MiFID or equivalent third country business; or2

  2. (2)

    carries on insurance distribution in relation to insurance-based investment product,2

other than when the firm makes2 a personal recommendation or carries2 out portfolio management.

COBS 10A.1.2R

This chapter applies to a firm which assesses appropriateness on behalf of a MiFID investment firm so that the other firm may rely on the assessment under COBS 2.4.4R (Reliance on other investment firms: MiFID and equivalent business).

Effect of provisions marked “UK”

COBS 10A.1.3R

The effect of GEN 2.2.22AR is that provisions in this chapter marked “UK”3 and including a Note (‘Note:’) referring to the MiFID Org Regulation2 also apply in relation to the equivalent business of a third country investment firm as if they were rules.

COBS 10A.1.4R

2Provisions in this chapter marked “UK”3 and including a Note (‘Note:’) referring to the IDD Regulation apply as if they were rules to firms, to whom the IDD Regulation does not apply, when doing insurance distribution.