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  1. Point in time
    2013-09-02

COBS 6.1E Platform service providers

Platform service providers: fees and commission

COBS 6.1E.1RRP
  1. (1)

    1If, in relation to a retail investment product, a platform service providerarranges to accept a fee or commission paid by a third party or a person acting on behalf of a third party, it must clearly disclose the amount of that fee or commission to the professional client or retail client in a durable medium in good time before the provision of designated investment business.

  2. (2)

    In the event that it is not possible to make the disclosure in (1) in good time before the provision of designated investment business, the disclosure must be made as soon as practicable thereafter.

COBS 6.1E.2GRP

If a platform service provideraccepts a fee or commission referred to in COBS 6.1E.1 R, it should pay due regard to its obligations under Principle 6 (Customers’ interests), Principle 7 (Communications with clients) and the client's best interests rule, and ensure that it presents retail investment products toprofessional clients and retail clients without bias.