83,229
edits
Rule on Inducements - COBS Provision: Difference between revisions
Rule on Inducements - COBS Provision (view source)
Revision as of 18:06, 25 November 2013
, 25 November 2013no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 10: | Line 10: | ||
:::(ii) where this requirement applies to business other than MiFID or equivalent third country business, a firm is not required to make a disclosure to the client in relation to a non-monetary benefit permitted under (a) and which falls within the table of reasonable non-monetary benefits in COBS {{cobsprov|2.3.15}} as though that table were part of this rule for this purpose only;<br> | :::(ii) where this requirement applies to business other than MiFID or equivalent third country business, a firm is not required to make a disclosure to the client in relation to a non-monetary benefit permitted under (a) and which falls within the table of reasonable non-monetary benefits in COBS {{cobsprov|2.3.15}} as though that table were part of this rule for this purpose only;<br> | ||
:::(iii) this requirement does not apply to a firm giving basic advice; and <br> | :::(iii) this requirement does not apply to a firm giving basic advice; and <br> | ||
::(c) in relation to MiFID or equivalent third country business or when carrying on a regulated activity in relation to a retail investment product, | ::(c) in relation to MiFID or equivalent third country business or when carrying on a regulated activity in relation to a retail investment product, the payment of the fee or commission, or the provision of the non-monetary benefit is designed to enhance the quality of the service to the client; or <br> | ||
:(3) proper fees which enable or are necessary for the provision of designated investment business or ancillary services, such as custody costs, settlement and exchange fees, regulatory levies or legal fees, and which, by their nature, cannot give rise to conflicts with the firm's duties to act honestly, fairly and professionally in accordance with the best interests of its clients.}} | :(3) proper fees which enable or are necessary for the provision of designated investment business or ancillary services, such as custody costs, settlement and exchange fees, regulatory levies or legal fees, and which, by their nature, cannot give rise to conflicts with the firm's duties to act honestly, fairly and professionally in accordance with the best interests of its clients.}} | ||