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    2023-07-31

COBS 9A.1 Application and purpose

1Note: ESMA has also issued guidelines under article 16(3) of the ESMA Regulation on certain aspects of the MiFID suitability requirements, 28 May 2018/ESMA-35-43-869 (EN).3

Application

COBS 9A.1.1R

This chapter applies to a firm which provides:2

  1. (1)

    investment advice or portfolio management in the course of MiFID, equivalent third country or optional exemption business; or2

  2. (2)

    investment advice in relation to an insurance-based investment product.2

Effect of provisions marked “UK” for third country investment firms and MiFID optional exemption firms

COBS 9A.1.2R

Provisions in this chapter marked “UK”3 and including a Note (‘Note:’) referring to the MiFID Org Regulation2 apply in relation to MiFID optional exemption business as if they were rules.

COBS 9A.1.3G

The effect of GEN 2.2.22AR is that provisions in this chapter marked “UK”3 also apply in relation to the equivalent business of a third country investment firm as if they were rules.

Effect of provisions marked “UK” for the firms distributing insurance-based investment products

COBS 9A.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 in relation to insurance distribution activities to which the IDD Regulation does not apply.