Template:COBS Section 2.1

COBS 2.1.1: The client's best interests rule (1) A firm must act honestly, fairly and professionally in accordance with the best interests of its client (the client's best interests rule).
(2) This rule applies in relation to designated investment business carried on:

(a) for a retail client; and

(b) in relation to MiFID or equivalent third country business, for any other client.

(3) For a management company, this rule applies in relation to any UCITS scheme or EEA UCITS scheme the firm manages.

Note: article 19(1) of MiFID and article 14(1)(a) and (b) of the UCITS Directive.