Template:Nutshell COBS 2.3.1: Difference between revisions

{{fcaprov|2.3.1}} A {{fcaprov|firm}} must not give or receive any money or benefit ('''benefit''') relating to {{fcaprov|client}} business other than one that:

:(1) '''Client Benefits''': the client pays or receives directly; or

:(2) '''Third Party Benefits''': a third party pays or receives if:

::(a) '''No impairment''': it does not impair the firm's duty to act in the {{fcaprov|client}}'s best interests; and

::(b) '''Full disclosure''': it is fully disclosed to the client before providing the service; and

::(c) '''Service enhancement''': it is designed to enhance the quality of the service to the client; or  

:(3) '''Ancillary Benefits''': 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)