CONC 3.1 Application

This chapter, unless a rule in CONC 3 specifies differently, applies to a firm.

This chapter, unless a rule in CONC 3 specifies differently, applies to:

1. (1)

   a communication with a customer in relation to a credit agreement;

2. (2)

   the communication or approval for communication of a financial promotion in relation to a credit agreement;

3. (3)

   a communication with a customer in relation to credit broking;

4. (4)

   the communication or approval for communication of a financial promotion in relation to credit broking;

5. (5)

   a communication with a borrower or a prospective borrower in relation to operating an electronic system in relation to lending; and

6. (6)

   the communication or approval for communication of a financial promotion to a borrower or a prospective borrower in relation to operating an electronic system in relation to lending.

The clear fair and not misleading rule in CONC 3.3.1 R and the general requirements rule in CONC 3.3.2 R and the guidance inCONC 3.3.5 G to CONC 3.3.11 G also, unless a rule or guidance in those paragraphs specifies differently, apply to:

1. (1)

   a communication with a customer in relation to debt counselling or debt adjusting; and

2. (2)

   the communication or approval for communication of a financial promotion in relation to debt counselling or debt adjusting.

CONC 3.3.1 R also applies to:

1. (1)

   a communication with a customer in relation to a consumer hire agreement;

2. (2)

   the communication or approval for communication of a financial promotion in relation to a consumer hire agreement; and

3. (3)

   a communication with a customer in relation to providing credit information services.

CONC 3 does not apply to:

1. (1)

   a financial promotion or a communication which expressly or by implication indicates clearly that it is solely promoting credit agreements or consumer hire agreements or P2P agreements for the purposes in each case of a customer's business;

2. (2)

   a financial promotion or a communication to the extent that it relates to qualifying credit; or

3. (3)

   an excluded communication.

1. (1)

   CONC 3 does not apply (apart from the provisions in (2)) to a financial promotion or communication that consists of only one or more of the following:

   1. (a)

      the name of the firm (or its appointed representative);

   2. (b)

      a logo;

   3. (c)

      a contact point (address (including e-mail address), telephone, facsimile number and website address);

   4. (d)

      a brief, factual description of the type of product or service provided by the firm.

2. (2)

   The provisions in CONC 3 which apply to a financial promotion or communication which falls within (1) are:

   1. (a)

      CONC 3.1, CONC 3.5.1 R and CONC 3.6.1 R (application);

   2. (b)

      CONC 3.3.1 R (clear, fair and not misleading);

   3. (c)

      CONC 3.3.3 R (credit regardless of status);

   4. (d)

      CONC 3.5.3 R, CONC 3.5.5 R, CONC 3.6.6 R (requirement for representative example or typical APR etc);

   5. (e)

      CONC 3.5.7 R (other financial promotions requiring a representative APR);

   6. (f)

      CONC 3.5.12 R (restricted expressions) and CONC 3.6.8 R (restricted expressions); and

   7. (g)

      any other rules in CONC which are necessary or expedient to apply the rules in (a) to (f).

This chapter applies to a firm in relation to:

1. (1)

   a communication with, or the communication or approval for communication of a financial promotion to, a person in the UK;

2. (2)

   the communication of an unsolicited real time financial promotion, unless it is made from a place, and for the purposes of a business which is only carried on, outside the UK; and

3. (3)

   the communication or approval for communication of a financial promotion that is an electronic commerce communication to a person in an EEA State other than in the UK;

and for the purposes of the application of this chapter, it is immaterial whether the credit agreement or the consumer hire agreement to which the financial promotion or communication relates is subject to the law of a country outside the UK.