Related provisions for ICOBS 5.3.1

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

MCOB 2.3.5GRP
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
APER 4.1.5GRP
3Deliberately recommending an investment to a customer, or carrying out a discretionary transaction for a customer where the approved person knows that they are unable to justify its suitability for that customer, falls within APER 4.1.2G.
CONC 3.3.10GRP
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
APER 4.7.14GRP
Where independent reviews of systems and procedures have been undertaken and result in recommendations for improvement, the approved person performing an accountable higher management function5 should ensure that, unless there are good reasons not to, any reasonable recommendations are implemented in a timely manner (APER 4.7.8G95). 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