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PDCOB 2.2 Exclusion of liability

PDCOB 2.2.1R

1A firm must not seek to exclude or restrict, or rely on any exclusion or restriction of any duty or liability it may have to a customer, unless:

  1. (1)

    it is reasonable for it to do so and it is consistent with the firm’s obligations under the customer’s best interests rule; and

  2. (2)

    the duty or liability arises other than under the regulatory system.

PDCOB 2.2.2G

1The general law, including the CRA, also limits the scope for a firm to exclude or restrict any duty or liability to a customer.