COBS TP 2 Other Transitional Provisions

42.-1

COBS 4

R

Expired15

2.1

COBS 6.1

G

(1) If a firm provides services of an ongoing nature to an existing client it need not provide information to that client that it would be required to provide under COBS to a new client but which it was not required to provide under COB.

(2) Services of an ongoing nature include safekeeping and administration investments and managing investments,

From 1 November 2007 indefinitely

1 November 2007

2.2

COBS 6.1

G

(1) If a firm provides a service for an existing client that is not of an ongoing nature and which relates to the same particular type of designated investment as a previous service, the firm need not provide information to that client that it would be required to provide under COBS 6.1 to a new client but which it was not required to provide under COB.

(2) But a firm should ensure that the client has received all relevant information in relation to a subsequent transaction, such as details of product charges that differ from those described in respect of a previous transaction.

From 1 November 2007 indefinitely

1 November 2007

[deleted]6

[deleted]6

62.2B

COBS 6.3

R

Expired15

62.2C

COBS 6.3

G

Expired15

472.2D

COBS 6.3

R

A firm may use a combined initial disclosure document prepared in accordance with the rules in COBS 6.3 and COBS 6 Annex 2R as they were in force as at 31 March 2013

From 1 April 2013 to 31 March 2014

1 April 2013

472.2E

COBS 6.3.7 G

R

A firm may use an initial disclosure document prepared in accordance with the rules in COBS 6.3.7 G and COBS 6 Annex 1 as they were in force as at 31 March 2013

From 1 April 2013 to 31 March 2014

1 April 2013

2.3

COBS 10.1.2 R

R

Expired15

2.4

COBS 10.1.2 R

G

Expired15

42.4A

COBS 11.2

R

Expired15

42.4B

COBS 11.2

G5

Expired15

52.4C

COBS 11.2

R

Expired15

52.4D

COBS 11.2

R

Expired15

42.4E5

COBS 12.2 and COBS 12.3

R

Expired15

42.4F5

COBS 12.2 and COBS 12.3

G

Expired15

42.4G5

COBS 12.2 and COBS 12.3

R

Expired15

2.5

COBS 13

R

Expired15

1217

172.5-A

COBS 13.4.1 R

R

A firm may comply with the provision listed in column (2) as amended by the Conduct of Business Sourcebook (Key Features Illustrations for Personal Pensions) (Amendment) Instrument 2013 as if the amendments to the Handbook set out in that instrument were in force.

From 6 April 2013 to 5 April 2014

6 April 2014

122.5A

COBS 13.4.2 R

R

A firm may rely on COBS 13.4.2R (5) (as introduced by the Retail Distribution Review (Key Features Illustrations) Instrument 2011) as if it was in force from 1 October 2012.

1 October 2012 until 31 December 2012

31 December 20121617

172.5AA

COBS 13.5.1 R

R

A firm may comply with the provision listed in column (2) as amended by the Conduct of Business Sourcebook (Key Features Illustrations for Personal Pensions) (Amendment) Instrument 2013 as if the amendments to the Handbook set out in that instrument were in force.

From 6 April 2013 to 5 April 2014

6 April 2014

172.5AB

COBS 13.5.2 R

R

A firm may comply with the provision listed in column (2) as amended by the Conduct of Business Sourcebook (Key Features Illustrations for Personal Pensions) (Amendment) Instrument 2013 as if the amendments to the Handbook set out in that instrument were in force.

From 6 April 2013 to 5 April 2014

6 April 2014

172.5-B

COBS 13 Annex 2

R

A firm may comply with the provision listed in column (2) as amended by the Conduct of Business Sourcebook (Key Features Illustrations for Personal Pensions) (Amendment) Instrument 2013 as if the amendments to the Handbook set out in that instrument were in force.

From 6 April 2013 to 5 April 2014

6 April 2014

162.5B

COBS 13 Annex 2 2.3

R

A firm may comply with the provision listed in column (2) as amended by the Conduct of Business Sourcebook (Projections) (Amendment) Instrument 2012 as if the amendments to the Handbook set out in that instrument were in force.

From 6 April 2013 to 5 April 2014

6 April 2014

162.5C

COBS 13 Annex 2 2.4

R

A firm may comply with the provision listed in column (2) as amended by the Conduct of Business Sourcebook (Projections) (Amendment) Instrument 2012 as if the amendments to the Handbook set out in that instrument were in force.

From 6 April 2013 to 5 April 2014

6 April 201417

172.5D

COBS 13 Annex 3

R

A firm may comply with the provision listed in column (2) as amended by the Conduct of Business Sourcebook (Key Features Illustrations for Personal Pensions) (Amendment) Instrument 2013 as if the amendments to the Handbook set out in that instrument were in force.

From 6 April 2013 to 5 April 2014

172.5E

COBS 13 Annex 4

R

A firm may comply with the provision listed in column (2) as amended by the Conduct of Business Sourcebook (Key Features Illustrations for Personal Pensions) (Amendment) Instrument 2013 as if the amendments to the Handbook set out in that instrument were in force.

From 6 April 2013 to 5 April 2014

2.6

COBS 14.1 and COBS 14.2

R

Expired15

102.6A

COBS 14.2 and COBS 14.3

Expired15

Expired15

2.7

COBS 15

R

Expired15

2.8

COBS 16.3 (Periodic statements)

G

This transitional rule applies in relation to a periodic reporting period for a periodic statement that includes 1 November 2007.

A firm may choose to comply with either COBS 16.3 or COB 8.2 in providing any periodic statement2 in relation to which this rule applies.

From 1 November 2007 indefinitely

1 November 2007

42.8A

COBS 18

R

Expired15

42.8B

COBS 18

G

Expired15

42.8C

COBS 18

R

Expired15

42.8D

COBS 18

G

[deleted]7

42.8E

COBS 18

R

Expired15

2.9

COBS 20.2.1 G to COBS 20.2.23 R; COBS 20.2.26 R8 to COBS 20.2.41 G

R

The provisions listed in column (2) do not apply to a firm if, and to the extent that, they are inconsistent with an arrangement that was formally approved by the appropriate regulator, a previous regulator or a court of competent jurisdiction, on or before 20 January 2005.

From 1 November 2007 indefinitely

1 November 2007

82.9A

COBS 20.2.24 R to COBS 20.2.25A R (Charging payments of compensation and redress to a with-profits fund)

R

The provisions listed in column (2) do not apply to a firm if, and to the extent that, they are inconsistent with an arrangement that was formally approved by the appropriate regulator, a previous regulator or a court of competent jurisdiction, on or before 31 July 2009.

From 31 July 2009 indefinitely

31 July 2009

2.10

COBS 20.2.42R (3) (Policyholder advocate: appointment and role)

R

The provision listed in column (2) does not apply to a firm if it is already carrying out a reattribution and the process is substantially underway to the extent that it has on or before 31 October 2007 appointed a policyholder advocate.

From 1 November 2007 – until completion of the firm's reattribution

1 November 2007

2.11

COBS TP 2.9

G

The rules and guidance on treating with-profits policyholders fairly (COBS 20.2.1 G – COBS 20.2.41 G;) may be contrary to, or inconsistent with, some arrangements that were formally approved by the appropriate regulator, a previous regulator or a court of competent jurisdiction, on or before 20 January 2005. The effect of TP 2.9 is that these rules do not apply to such arrangements if, and to the extent that, it is inconsistent with them.

A firm should be mindful, however, that, even if some or all of these rules are disapplied, the firm is still subject to the rules in the rest of the Handbook, including Principle 6.

From 1 November 2007 indefinitely

1 November 2007

42.12

COBS

R

[deleted]7

42.13

COBS

R

[deleted]7

82.14

COBS 20.2.24 R to COBS 20.2.25A R

R

(1) COBS 20.2.24 R to COBS 20.2.25A R have effect in relation to payments of compensation and redress arising out of events occurring on or after 31 July 2009.

(2) For payments of compensation and redress arising out of events occurring before 31 July 2009, COBS 20.2.23 R to COBS 20.2.25 R apply as they were in force on 30 July 2009.

From 31 July 2009 indefinitely

31 July 200913

[deleted]

[deleted]

[deleted]

92.16

COBS 9.4.10 G; COBS 13 Annex 2; COBS 13 Annex 3; COBS 14.2.1 R

R

Expired15

92.17

COBS 9.4.10 G; COBS 13 Annex 2; COBS 13 Annex 3; COBS 14.2.1 R

G

Expired15

142.18

COBS 20.2.53 R to COBS 20.2.60 G, SUP App 2.15G

R

(1) Unless (2) applies, and subject to (3), a firm that has ceased to effect new contracts of insurance in a with-profits fund must submit to the FCA a run-off plan of the type described in COBS 20.2.53R (2); COBS 20.2.56 R, and COBS 20.2.57 G, if it has not done so already, by 31 December 2012, regardless of when it closed to new business.

(2) Paragraph (1) does not apply to a firm if, and to the extent that, to comply would be contrary to or inconsistent with an arrangement that was formally approved by a court of competent jurisdiction, on or before 1 April 2012.

(3) A firm required by (1) above to produce a run-off plan:

(a) should consider the guidance in SUP App 2.15.6 G, 2.15.7G (11), 2.15.13 G, 2.15.14 G and 2.15.15 G to continue to apply to it, as appropriate;

(b) may demonstrate compliance with the guidance in SUP App 2.15.2 G, 2.15.3 G, 2.15.4 G and 2.15.5 G by reference to existing documents created by or for the firm, provided that it submits copies of relevant extracts to the FCA;

(c) may disregard the remaining provisions in SUP App 2.15G if to do so would be consistent with meeting the requirements of COBS 20.2.56R (1); and

(d) may otherwise tailor the run-off plan to reflect the fact that the fund in question has already been closed.

From 1 April 2012 indefinitely

1 November 2007 and 1 April 2012

142.19

COBS 20.2.53 R to COBS 20.2.60 G

G

The effect of COBS TP 2.18 is that firms which were not required to submit a run-off plan to the FCA because they ceased to effect new contracts of insurance before 1 November 2007 or because of previous transitional provisions in COBS, will need to submit a version of a run-off plan to the FCA, taking into account the fact that the fund has already closed, by 31 December 2012. However, this will not apply to the extent that it would be inconsistent with a formally approved court scheme.

From 1 April 2012 indefinitely

1 November 2007 and 1 April 2012

142.20

COBS 20.2.28 R

R

Expired15

142.21

COBS 20.2.36 R to COBS 20.2.36A R

R

Firms which retain strategic investments in reliance on decisions made by the firm's governing body appropriately taking into account COBS 20.2.36 G prior to 1 April 2012 are deemed to be compliant with COBS 20.2.36 R and COBS 20.2.36A R until 1 October 2012.

From 1 April 2012 to 1 October 2012

1 April 2012

142.22

COBS 20.5.1 R to COBS 20.5.5 R

R

Expired15

192.23

The changes to COBS set out in Annex K of the Alternative Investment Fund Managers Directive Instrument 2013

R

(1) Where a firm meets the conditions in (2), the changes effected by the Annex listed in column (2) do not apply and, therefore, the provisions in COBS amended by that Annex will continue to apply as they were in force as at 21 July 2013.

(2) the conditions are:(a) the firm falls within regulation 73(1) of the AIFMD UK regulation; and

(b) the firm does not have a Part 4A permission to manage an AIF.

From 22 July 2013 until 21 July 2014

22 July 2013