Related provisions for MCOB 9.7.3
81 - 89 of 89 items.
If a firm is satisfied that the client has the necessary experience and knowledge in order to understand the risks involved in relation to the product or service, there is no duty to communicate this to the client. If the firm does so, it must not do so in a way that amounts to making a personal recommendation unless it complies with the rules in COBS 9 on suitability.
A VJ participant may not withdraw from the Voluntary Jurisdiction unless:(1) the VJ participant has submitted to FOS Ltd a written plan for:(a) notifying its existing customers of its intention to withdraw; and(b) handling complaints against it before its withdrawal;(2) the VJ participant has paid the general levy for the year in which it withdraws and any other fees payable; and(3) FOS Ltd has approved in writing both the VJ Participant's plan and the date of withdrawal (which
A communication must be an invitation or inducement to engage in investment activity for the restriction in section 21 to apply. Section 21(8) defines this phrase as:(1) entering or offering to enter into an agreement the making or performance of which by either party is a controlled activity; or(2) exercising any rights conferred by a controlled investment to acquire, dispose of, underwrite or convert a controlled investment.
1This section applies to a firm:(1) communicating with a customer; or(2) communicating or approving a financial promotion other than:(a) a financial promotion that would benefit from an exemption in the Financial Promotion Order if it were communicated by an unauthorised person;(b) a promotion of an unregulated collective investment scheme that would breach section 238(1) of the Act if made by an authorised person (firms may not communicate or approve such promotions).
Behaviour
of the type referred to in APER 4.1.8 E includes, but is not limited to, deliberately:(1) preparing
performance reports for transmission to customers which
are inaccurate or inappropriate (for example, by relying on past performance
without appropriate warnings);(2) preparing
inaccurate training records or inaccurate details of qualifications, past
employment record or experience;(3) preparing
inaccurate trading confirmations, contract notes or other records of transactions
(1) A firm is not required to ask its client to provide information or assess appropriateness if:(a) the service only consists of execution and/or the reception and transmission of client orders, with or without ancillary services, it relates to particular financial instruments and is provided at the initiative of the client;(b) the client has been clearly informed (whether the warning is given in a standardised format or not) that in the provision of this service the firm is
A person ('P') may be engaged, typically by investment product companies, to provide telephone services. Where such services require P to seek to persuade or incite prospective customers to receive investment literature or a personal call or visit from a representative of his principal they will frequently involve inducements to engage in investment activity. This is so whether the inducement results from P making unsolicited calls or by his raising the issue during a call made
The conditions in article 18 also require that the person acting as the mere conduit must communicate in the course of an activity1 carried on by him the principal purpose of which is transmitting or receiving material provided to him by others. In the FSA's view, what matters is that the person is carrying on an activity1 which has the required principal purpose. Such an activity1 might represent but a part of a person’s overall business1 activities (however small), so long as
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