GEN 4.2 Purpose

The purpose of this chapter is to build upon 8Principle 7 (Communications with clients), which requires a firm to pay due regard to the information needs of its clients. This chapter requires the provision of appropriate minimum information about the identity of the regulator that authorised a firm. It also governs the way in which a firm may describe its regulation by the FSA.8 This assists in the achievement of the regulatory objectives of consumer protection, public awareness and market confidence.

There are other pre-contract information requirements outside this chapter, including:

1. (1)

   for financial promotions, inthe financial promotion rules;5

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2. (2)

   for designated investment business, inCOBS 8 (Client agreements), COBS 5 (Distance Communications), COBS 6 (Information about the firm, its services and remuneration), COBS 13 and 14 (which relate to product information)5 and CASS (Client assets);

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3. (3)

   for non-investment insurance contracts3, distance communication requirements in ICOBS 3, initial disclosure requirements in ICOBS 4, disclosures relating to client needs and advice in ICOBS 5 and product information requirements in ICOBS 6;

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4. (4)

   for electronic commerce activities carried on from an establishment in the United Kingdom, in COBS 5.2, ICOBS 3.2 7and MCOB 2.8;6 1

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5. (5)

   for regulated mortgage contracts and home purchase plans, initial disclosure requirements 4in MCOB 44, pre-application disclosure requirements in MCOB 5,4 and disclosure at the offer stage in MCOB 64;4 12

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6. (6)

   for equity release transactions, initial disclosure requirements in MCOB 8.4, pre-application disclosure requirements in MCOB 9.4 and disclosure at the offer stage in MCOB 9.5;4 and

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7. (7)

   for regulated sale and rent back agreements, initial disclosure requirements in MCOB 4.11, pre-sale disclosure requirements in MCOB 5.9 and disclosure at the offer stage requirements in MCOB 6.9.

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