Dealing and managing - COBS Provision: Difference between revisions
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Note that the provisions of COBS 11.6 are currently under thematic review by the {{tag|FCA}}. See in particular the FCA's [http://www.fca.org.uk/news/cp13-17-use-of-dealing-commission Consultation on the Use of Dealing Commission] (CP13/17) dated November 2013, for which submissions close in February 2014 and which is expected to be implemented in the Spring of 2014. | Note that the provisions of COBS 11.6 are currently under thematic review by the {{tag|FCA}}. See in particular the FCA's [http://www.fca.org.uk/news/cp13-17-use-of-dealing-commission Consultation on the Use of Dealing Commission] (CP13/17) dated November 2013, for which submissions close in February 2014 and which is expected to be implemented in the Spring of 2014. | ||
=== | ==={{cobsprov|11.2}} {{cobsprov|Best Execution}}=== | ||
Note that courtesy of {{cobsprov|1 Annex 1}} best execution obligations are not owed to an {{fcaprov|eligible counterparty}}, but only to a {{fcaprov|professional client}} or a {{fcaprov|retail client}}. | Note that courtesy of {{cobsprov|1 Annex 1}} best execution obligations are not owed to an {{fcaprov|eligible counterparty}}, but only to a {{fcaprov|professional client}} or a {{fcaprov|retail client}}. | ||
| Line 17: | Line 17: | ||
*{{tag|COBS}} {{Cobsprov|11.2.26}}: permission to execute outside a [[regulated market]] or [[MTF]] <br> | *{{tag|COBS}} {{Cobsprov|11.2.26}}: permission to execute outside a [[regulated market]] or [[MTF]] <br> | ||
===Use of Dealing Commission=== | ==={{cobsprov|11.6}} {{cobsprov|Use of Dealing Commission}}=== | ||
*{{tag|COBS}} {{Cobsprov|11.6.1}} <br> | *{{tag|COBS}} {{Cobsprov|11.6.1}} <br> | ||
*{{tag|COBS}} {{Cobsprov|11.6.2}} <br> | *{{tag|COBS}} {{Cobsprov|11.6.2}} <br> | ||
Revision as of 12:40, 28 November 2014
Note that the provisions of COBS 11.6 are currently under thematic review by the FCA. See in particular the FCA's Consultation on the Use of Dealing Commission (CP13/17) dated November 2013, for which submissions close in February 2014 and which is expected to be implemented in the Spring of 2014.
11.2 Best Execution
Note that courtesy of 1 Annex 1 best execution obligations are not owed to an eligible counterparty, but only to a professional client or a retail client.
Application of best execution obligation
Management companies: execution and transmission of orders
Client consent to execution policy and execution of orders outside a regulated market or MTF
- COBS 11.2.25: consent to best execution policy generally
- COBS 11.2.26: permission to execute outside a regulated market or MTF
11.6 Use of Dealing Commission
- COBS 11.6.1
- COBS 11.6.2
- COBS 11.6.3
- COBS 11.6.4
- COBS 11.6.5
- COBS 11.6.6
- COBS 11.6.7
- COBS 11.6.8G - examples of goods and services that are not exempt and cannot be paid for from dealing commissions
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)).