Related provisions for MCOB 9.4.131
101 - 120 of 148 items.
(1) 1Firms are reminded of their obligation, under COBS 4.2.1 R, to be fair, clear and not misleading in their communications with clients.(2) Firms are also reminded of the requirements in respect of communications made to retail clients under COBS 4.5 and clients under article 44 of the MiFID Org Regulation and COBS 4.5A (as applicable)2.
(1) 4CONC 4.2.5R(1) requires the customer to be provided with an adequate explanation of the matters in CONC 4.2.5R(2). Where there is more than one customer acting together as ‘joint borrowers’, the lender or credit broker should consider whether it may be appropriate to give separate explanations to each customer and whether the explanation should be the same or different for each, rather than giving a single explanation to all of them jointly. (Where the borrower is a partnership
(1) The operator must maintain facilities in the United Kingdom at which the unitholder of a bearer certificate may obtain free of charge: (a) payment of dividends; and(b) details or copies of any notices which have been given or sent to participants in the scheme. (2) The operator must state:(a) the nature of the right represented by the units in the scheme; and(b) whether persons other than unitholders can vote at meetings of unitholders and, if so, who those persons are.
The cancellation period begins either:(1) from the day of the conclusion of the contract, except in respect of a pure protection contract where the time limit begins when the customer is informed that the contract has been concluded; or(2) from the day on which the consumer receives the contractual terms and conditions and any other pre-contractual information required under this sourcebook, if that is later than the date referred to above.[Note: article 186(1) of the Solvency
A firm must ensure that its contingency funding plan:(1) outlines strategies, policies and plans to manage a range of stresses;(2) establishes a clear allocation of roles and clear lines of management responsibility;(3) is formally documented;(4) includes clear invocation and escalation procedures;(5) is regularly tested and updated to ensure that it remains operationally robust;(6) outlines how that firm will meet time-critical payments on an intra-day basis in circumstances
(1) 2Firms must provide advice in a durable medium, unless CONC 8.3.4AR applies. Where questions over the application of that exemption may arise, for example, in relation to advice given to a customer at an initial meeting or telephone call, the following considerations may be relevant:(a) if a firm never charges for advice and never enters into contracts with customers for debt solutions, CONC 8.3.4AR may remove the requirement to provide advice to the customer in a durable
If, notwithstanding the steps taken by a firm to comply with MCOB 1.6.3 R, it transpires that a mortgage which the firm has treated as unregulated or as a regulated credit agreement4 is in fact a regulated mortgage contract, the firm must as soon as practicable after the correct status of the mortgage has been established:(1) contact the customer and provide him with the following information in a durable medium:(a) a statement that the mortgage contract is a regulated mortgage
The Regulated Activities Order contains an exclusion (article 27: Enabling parties to communicate) to bring a degree of certainty to this area. This applies to arrangements which might otherwise fall within article 25(2) merely because they provide the means by which one party to a transaction (or potential transaction) is able to communicate with other parties. In the FCA's view, the crucial element of the exclusion is the inclusion of the word ‘merely’. So that, where a publisher,
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 (Suitability (including basic advice) (non-MiFID provisions))2.
A firm should establish and maintain appropriate systems and controls for the management of operational risks that can arise from employees. In doing so, a firm should have regard to:(1) its operational risk culture, and any variations in this or its human resource management practices, across its operations (including, for example, the extent to which the compliance culture is extended to in-house IT staff);(2) whether the way employees are remunerated exposes the firm to the
(1) A firm must communicate to a consumer2 the distance marketing information in a durable medium available and accessible to the consumer2 in good time before the consumer2 is bound by any distance contract or offer to enter into a home purchase plan.222(2) If the distance contract or offer has been concluded at the consumer's2 request using a means of distance communication2 which does not enable providing the information in accordance with (1) then it must be communicated no
A firm must take reasonable care to ensure that every letter (or electronic equivalent) which it or its employees send to a retail client4, with a view to or in connection with the firm carrying on a regulated activity, includes the disclosure in GEN 4 Annex 1 R (firms that are not PRA-authorised persons) or GEN 4 Annex 1AR (PRA-authorised persons) as applicable15.14
The requirement under section 64(1)(b) of the CCA to send debtors or hirers a notice of their rights to cancel a cancellable agreement within the seven days following the making of that agreement does not apply in the case of the agreements described in SUP 8A.2.5 G, if: (1) on application by a firm to the FCA, the FCA has determined, having regard to:(a) the manner in which antecedent negotiations for the relevant agreements with the firm are conducted; and(b) the information
The transferee must, within seven days after the transfer of client money under CASS 11.13.6 G notify clients that:(1) their money has been transferred to the transferee; and (2) they have the option of having client money returned to them or to their order by the transferee, otherwise the transferee will hold the client money for the clients and conduct debt management activities for those clients.