Learn after lunch –FCA Conduct of Business Rules
Nick Bamford APFSChartered Financial Planner
Behaviour
COBS 2.1.1 (1) a firm must act with honesty, fairly and
professionally in accordance with the best interests of its
clients
Type of Client
COBS 3.4.1 A retail client is a client who is not a professional
client or an eligible counter party
Communication
COBS 4.2.1 (1) A firm must ensure that a communication or
a financial promotion is fair, clear and not misleading
Remuneration
COBS 6.1 A4 (1) Only be remunerated for the personal
recommendation (and any other related services provided by the
firm) by adviser charges
Status
COBS 6.2A 5 (1) A firm must disclose in writing to a retail client in good time before the
provision of services in respect of a personal recommendation
whether its advice is
Status
COBS 6.2A 5 (1) A firm must disclose in writing to a retail client in good time before the
provision of services in respect of a personal recommendation
whether its advice is (1) Independent advice
Suitability
COBS 9.2.1 (1) A firm must take reasonable steps to ensure
that a personal recommendation or a decision
to trade, is suitable for its clients