COBS 13.3 Contents of a key features document

A key features document must:

1. (1)

   include enough information about the nature and complexity of the product, how it works, any limitations or minimum standards that apply and the material benefits and risks of buying or investing for a retail client to be able to make an informed decision about whether to proceed; 7

2. (2)

   explain:

   1. (a)

      the arrangements for handling complaints about the product;

   2. (b)

      that compensation might be available from the FSCS if the firm cannot meet its liabilities in respect of the product (if applicable);

   3. (c)

      that a right to cancel or withdraw exists, or does not exist, and, if it does exist, its duration and the conditions for exercising it, including information about the amount a client may have to pay if the right is exercised, the consequences of not exercising it and practical instructions for exercising it, indicating the address to which any notice must be sent;

   4. (d)

      (for a CTF) that stakeholder CTFs, cash-deposit CTFs and 1security-based CTFs1 are available and which type the firm is offering; and

   5. (e)

      (for a personal pension scheme that is not an automatic enrolment scheme)2 clearly and prominently, that stakeholder pension schemes are generally available and might meet the client's needs as well as the scheme on offer; and7

3. (3)

   7(for a cash-only lifetime ISA) include the information set out in COBS 14 Annex 1.