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Status: You are viewing the version of the handbook as on 2011-04-29.

GEN 4.2 Purpose

GEN 4.2.1GRP

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, market confidence and financial stability.11

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GEN 4.2.1AG

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GEN 4.2.2GRP

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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