1+2 - firms subject to COBS + appointed representatives

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7 Terms

1
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what is COBS

the conduct of business sourcebook

2
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which firms are subject to COBS

if you do these activities in the UK:

  • designated investment business

  • long-term life insurance business

  • accepting deposits


3
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who does COBS no longer apply to

MiFID business of a UK MiFID firm, that is done from an establishment in another European country

4
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who takes responsibility for appointed reps

the firm

5
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what is durable medium (in terms of communication)

paper or any instrument that lets the recipient store information for future ref

6
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when can communications be allowed via a website

when website conditions are met

7
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what are website conditions (5)

  • appropriate + up-to-date info discussed

  • client has regular access to internet

  • client consents

  • client notified where to access info (via email usually)

  • info continuously available