COBS 13.2 Product information: production standards, form and contents
1When a firm prepares documents or information in accordance with this chapter, the firm should consider the rules on providing product information (COBS 14). Those rules require a firm to provide the product information in a durable medium or via a website that meets the website conditions (if the website is not a durable medium).
[Note: article 29(4) of the MiFID implementing Directive]
A key features document and a key features illustration 2must also:
- (1)
(if it is a key features document) 2be produced and presented to at least the same quality and standard as the sales or marketing material used to promote the relevant product;
- (2)
(if it is a key features document) 2display the firm's brand at least as prominently as any other;
- (3)
(if it is a key features document or a key features illustration which does not form an integral part of the key features document) 2include the ‘Key facts’ logo in a prominent position at the top of the document; and
- (4)
(if it is a key features document or a key features illustration which does not form an integral part of the key features document) 2include the following statement in a prominent position:
“The Financial Services Authority is the independent financial services regulator. It requires us, [provider name], to give you this important information to help you to decide whether our [product name] is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference”.
The Consolidated Life Directive information can be included in a key features document, a key features illustration 2or any other document.
The documents and information prepared in accordance with the rules in this chapter must not include anything that might reasonably cause a retail client to be mistaken about the identity of the firm that produced, or will produce, the product.