MCOB 3.7 Unsolicited real time qualifying credit promotions

1. (1)

   An unsolicited real time qualifying credit promotion is a real time qualifying credit promotion which is not solicited as described in (2).

2. (2)

   A solicited real time qualifying credit promotion is a real time qualifying credit promotion which is solicited, that is, it is made in the course of a personal visit, telephone call or other interactive dialogue if that call, visit or dialogue:

   1. (a)

      was initiated by the recipient of the qualifying credit promotion; or

   2. (b)

      takes place in response to an express request from the recipient of the qualifying credit promotion;

   and it is clear from all the circumstances when the call, visit or dialogue is initiated or requested that during the course of the visit, call or dialogue a qualifying credit promotion would be made.

3. (3)

   In (2), a person is not to be treated as expressly requesting a call, visit or dialogue:

   1. (a)

      because he omits to indicate that he does not wish to receive any or any further visits or calls or to engage in any or any further dialogue;

   2. (b)

      because he agrees to standard terms that state that such visits, calls or dialogues will take place unless he has signified clearly that, in addition to agreeing to the terms, he is willing for them to take place.

4. (4)

   If a qualifying credit promotion is solicited by a person ('R') it is treated as also having been solicited by any other person to whom it is made at the same time as R if that other person is a close relative of R or is expected to enter into any contract for qualifying credit jointly with R.

A firm must not make an unsolicited real time qualifying credit promotion unless the customer has an established existing customer relationship with the firm and the relationship is such that the customer envisages receiving unsolicited real time qualifying credit promotions.