COBS 4.3 Financial promotions to be identifiable as such

A firm must ensure that a financial promotion addressed to a client is clearly identifiable as such.

[Note: article 24(3)4 of MiFID and article 77 of the UCITS Directive]3

If2 a financial promotion relates to a2 firm's MiFID, equivalent third country or optional exemption business4, this rule does not apply to the extent that the2 financial promotion is a third party prospectus.

If2 a financial promotion relates2 to a 2 firm's business that is not 2MiFID or equivalent third country business, this rule applies to communicating or approving the2 financial promotion but does not apply:

1. (a)

   to the extent that it is an excluded communication;

2. (b)

   to the extent that it is a prospectus advertisement to which PR 3.3 applies;

3. (c)

   if it is image advertising;

4. (d)

   if it is a non-retail communication;

5. (e)

   to the extent that it relates to a pure protection contract that is a long-term care insurance contract.

   1

In the case of a marketing communication that relates to a UCITS scheme or an EEA UCITS scheme,

(2) and (3) do not limit the application of this rule.3