Retail client - COBS Provision: Difference between revisions
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Not a {{cobsprov|professional client}}, and not an {{cobsprov|eligible counterparty}}. | Not a {{cobsprov|professional client}}, and not an {{cobsprov|eligible counterparty}}. A person with whom, generally, a {{tag|MiFID}}-regulated [[investment bank]] will want little to do. Unless they're PWM clients, of course. | ||
{{cobssnap|3.4}} | {{cobssnap|3.4}} | ||
Revision as of 14:35, 18 July 2016
Not a professional client, and not an eligible counterparty. A person with whom, generally, a MiFID-regulated investment bank will want little to do. Unless they're PWM clients, of course.
Section 3.4, COBS Rules
COBS Rules
Template:COBS Section 3.4
View Template
Commentary
MiFID Categorisation
- Professional clients: per se professional client | elective professional client
- ECPs: per se eligible counterparty | elective eligible counterparty | COBS 1 Annex 1 for disapplication of COBS rules to ECPs
- Retail client: See COBS 3.4: one who is not a professional client or an ECP
- Categorisation decision tree (pdf)
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)).