CONRED App 1.1 Key definitions
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the requirements included in the permissions of Capita Financial Managers Limited, BNY Mellon Trust & Depository (UK) Limited and HSBC Bank plc at their request under what was then (but is no longer) section 44 of the Act on 31 August 2011. |
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(a) |
where the personal recommendation was made on or before 31 October 2007, a private customer for the purposes of COB 2 and COB 5, as defined by the version of the Handbook then in force; or |
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(b) |
where the personal recommendation was made on or after 1 November 2007, a retail client in accordance with COBS 3.4.1 R. |
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(a) |
an authorised person; or |
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(b) |
a person who was an authorised person when the relevant activity took place but has since ceased to be one. |
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a recommendation which is advice on investments and: |
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(a) |
where given on or before 31 October 2007, was given to a specific person; or |
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(b) |
where given on or after 1 November 2007, was presented as suitable for the person to whom the recommendation was made, or was based on a consideration of the circumstances of that person, other than a recommendation issued exclusively through distribution channels or to the public. |
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