Transaction - FCA Rulebook Term

Transaction

(1) (except in CONC App 1.1) only the purchase and sale of a financial instrument. For the purposes of the MiFID Regulation, excluding Chapter II, this does not include:

(a) securities financing transactions; or

(b) the exercise of options or covered warrants; or

(c) primary market transactions (such as issuance allotment or subscription) in financial instruments falling within Article 4(1)(18)(a) and (b) of MiFID.

(2) (in CONC App 1.3, except in CONC App 1.1.6R (1)(c)) a credit agreement, any transaction which is a linked transaction, any contract for the provision of security relating to the credit agreement, any credit broking contract relating to the credit agreement and any other contract to which the borrower or a relative of his is a party and which the lender requires to be made or maintained as a condition of the making of the credit agreement.

— Section Transaction

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Commentary

Conduct of Business

This is an article about the FCA’s conduct of business rules, known by its chapter in the FCA Sourcebook, COBS, which implement, among other things, MiFID (directive 2004/39/EC (EUR Lex) and implementing directive 2006/73/EC (EUR Lex)).