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  2. Point in time
    2009-03-29

MCOB 3.4 Purpose

MCOB 3.4.1G
  1. (1)

    Section 21(1) of the Act (Restriction on financial promotion) imposes a restriction on the communication of financial promotions by unauthorised persons. A person must not, in the course of business, communicate a financial promotion1 unless:

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    1. (a)

      he is an authorised person; or

    2. (b)

      the content of the financial promotion1 is approved by an authorised person.

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  2. (2)

    However, the Financial Promotion Order exempts from the restriction created by section 21(1) of the Act certain types of financial promotions.

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MCOB 3.4.2G
  1. (1)

    The purpose of this chapter is to provide rules and guidance for a firm which wishes to communicate or approve a financial promotion of qualifying credit or of a home reversion plan.1

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  2. (2)

    This chapter amplifies, for activities within its scope Principle 6 (Customers' interests) and Principle 7 (Communications with clients).1

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