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  3. Point in time
    2017-10-20

CONC 3.10 Financial promotions not in writing

Application

CONC 3.10.1RRP

This section applies:

  1. (1)

    to a financial promotion in relation to consumer credit lending, credit broking, debt counselling, debt adjusting, operating an electronic system in relation to lending 1in relation to prospective borrowers or borrowers 1under P2P agreements;

    1
  2. (2)

    in relation to the communication of a financial promotion that is not in writing.

Promotions that are not in writing

CONC 3.10.2RRP

A firm must not communicate a solicited or unsolicited financial promotion that is not in writing, to a customer outside the firm's premises, unless the person communicating it:

  1. (1)

    only does so at an appropriate time of the day; and

  2. (2)

    identifies that person and the firm represented at the outset and makes clear the purpose of the communication.

    [Note: paragraphs 3.9d of CBG and 3.12b of DMG]

CONC 3.10.3GRP

2Firms are reminded that:

  1. (1)

    section 49 of the CCA makes it a criminal offence to canvass borrower-lender agreements, for example cash loans, off trade premises (within the meaning of section 48 of the CCA); and

  2. (2)

    section 154 of the CCA makes it a criminal offence to canvass off trade premises credit broking of a kind specified by article 36A(1)(a) to (c) of the Regulated Activities Order, debt adjusting, debt counselling or providing credit information services (within the meaning of section 153 of the CCA).