Related provisions for ICOBS 5.3.1
21 - 23 of 23 items.
Where
independent reviews of systems and procedures have been undertaken and result
in recommendations for improvement, the approved
person performing a significant
influence function should ensure that, unless there are good
reasons not to, any reasonable recommendations are implemented in a timely
manner (APER 4.7.10 E). What is reasonable will depend on the nature of the inadequacy
and the cost of the improvement. It will be reasonable for the approved person performing a significant
MCOB 2.3.2 R does not prevent a firm: (1) assisting a home finance intermediary2 so that the quality of the home finance intermediary's2 service to customers is enhanced; or 22(2) giving or receiving indirect benefits (such as gifts, hospitality and promotional competition prizes); providing in either case this is not likely to give rise to a conflict with the duties that the recipient owes to the customer. In particular, such benefits should not be of a kind or value that is
Examples of practices that are likely to contravene the clear, fair and not misleading rule in CONC 3.3.1 R include:(1) stating or implying that a firm is a lender (where this is not the case);[Note: paragraph 3.7e (box) of CBG](2) misleading a customer as to the availability of a particular credit product; [Note: paragraph 3.9p of CBG(3) concealing or misrepresenting the identity or name of the firm; [Note: paragraph 3.7g (box) of CBG(4) using false testimonials, endorsements