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You are viewing the version of the document as on 2023-07-31.

private customer

(for the purposes only of COBS TP 1 (Transitional Provisions in relation to Client Categorisation)):61

  1. (1) (except in COB 3, COB 4.2 and COB 6.4) subject to (h), a client who is not a market counterparty or an intermediate customer, including:22but excluding a client , who would otherwise be a private customer:22
    1. (a) an individual who is not a firm ;
    2. (b) an overseas individual who is not an overseas financial services institution;
    3. (c) [deleted]
    4. (d) (except for the purposes of DISP) a client when he is classified as a private customer in accordance with COB 4.1.14 R (Client classified as a private customer);
    5. 24(e) a person to whom a firm61 gives basic advice61;24
    6. (f) (in COB 6.1 to 6.5) where the regulated activity (except for a personal recommendation relating to a contribution to a CTF ) relates to a CTF and there is no registered contact , the person to whom the88 statement must be sent in accordance with Regulation 10 of the CTF Regulations;22
    7. (g) (in COB 6.7) where the regulated activity (except for a personal recommendation relating to a contribution to a CTF) relates to a CTF and there is no registered contact, the child, via the person to whom the88 statement must be sent in accordance with Regulation 10 of the CTF Regulations;22
    8. (h) a client who would otherwise be excluded as a market counterparty or intermediate customer if the client is within (e), (f) or (g);22
    9. (i) when he is classified as an intermediate customer in accordance with COB 4.1.9 R (Expert private customer classified as an intermediate customer); or22
    10. (ii) when the regulated activity relates to a CTF , any person other than (e), (f), (g) or (h).22
    but excluding a client , who would otherwise be a private customer:22
  2. (2) (in COB 3) a person in (1) or a person excluded under (1)(h)(ii) or a person who would be such a person if he were a client.2261 consumer 61 .18
  3. (3) (in COB 4.2 and 6.1 to 6.5) a person in (1) and, in relation to the conclusion of a distance contract, a61 consumer 61 .18135