| Handbook reference | Matters to be notified | Contents of notification | Trigger event | Time allowed |
|---|---|---|---|---|
| COBS 20.2.19AR (1) | Details of a proposed distribution | Written details of the proposed distribution, together with copies of draft notifications it proposes to send to policyholders. | The proposed distribution to policyholders is smaller than the ‘pre-notification to policyholder minimum’ calculated in accordance with COBS 20.2.19BR (1). | At least two months prior to the proposed distribution |
| COBS 20.2.19AR (2) | Details of a proposed distribution | Written details of the proposed distribution, together with copies of draft notifications it proposes to send to policyholders. | The distribution to policyholders does not meet the test in COBS 20.2.19AR (1) but is smaller than the ‘after the event notification to policyholder minimum’ calculated in accordance with COBS 20.2.19BR (2). | At least one month prior to the proposed distribution |
| COBS 20.2.45 R | Appointment of policyholder advocate. | The terms on which the firm proposes to appoint a policyholder advocate. | Proposal to appoint policyholder advocate. | As soon as reasonably practicable |
| COBS 21.2.8 R | Breach of COBS 21.3.5 R | Any failure to meet the requirements of COBS 21.3.5 R | Breach of COBS 21.3.5 R | As soon as the firm becomes aware of the failure |
| COBS 20.5.5R (3) | The decision of a firm's governing body to depart from the advice or recommendation of the with-profits committee or advisory arrangement. | A description of:
(1) the decision of, and reasons given by, the firm's governing body;
(2) the recommendation and advice of the with-profits committee or advisory arrangement;
together with a copy of the firm's records of the decision, reasons, advice and recommendations. | The with-profits committee or advisory arrangement considers that the issue is sufficiently significant and requests of the governing body that the FSA be informed. | As soon as reasonably practicable |
You are viewing COBS Sch 2 Notification requirements as of . COBS Sch 2 Notification requirements was last updated on 01/01/2016.
COBS Sch 2 Notification requirements
01/01/2016G