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