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Template:Nutshell COBS 2.3.1: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{fcaprov|2.3.1}} A {{fcaprov|firm}} must not give or receive any fee, commission or non-monetary benefit ('''benefit''') in relation to business carried on for a {{fcaprov|cl...") |
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{{fcaprov|2.3.1}} A {{fcaprov|firm}} must not give or receive any | {{fcaprov|2.3.1}} A {{fcaprov|firm}} must not give or receive any money or benefit ('''benefit''') relating to {{fcaprov|client}} business other than: | ||
:(1) '''Client Benefits''': | :(1) '''Client Benefits''': one provided to or by the client; or | ||
:(2) '''Third Party Benefits''': | :(2) '''Third Party Benefits''': one provided to or by a third party if: | ||
::(a) '''No impairment''': it does not impair the firm's duty to act in the client’s best interests; and | ::(a) '''No impairment''': it does not impair the firm's duty to act in the client’s best interests; and | ||
::(b) '''Full disclosure''': it is | ::(b) '''Full disclosure''': it is fully disclosed to the client before providing the service; and | ||
::(c) '''Service enhancement''': | ::(c) '''Service enhancement''': it is designed to enhance the quality of the service to the client; or | ||
:(3) '''Ancillary Benefits''': | :(3) '''Ancillary Benefits''': one which facilitates designated investment business or ancillary services,and doesn't create a conflict with the {{fcaprov|client}}'s interests (eg custody, clearing or exchange fees, legal fees, regulatory levies etc) | ||