Appendix 1

Part

COB Conduct of Business

Chapter

Appendix 1

Printed on: 11/11/2024

Rulebook at: 06/11/2006

COB App 1

Appendix 1

COB App 1.1

Required information for certain terms of business, key features, simplified prospectuses and direct offer financial promotions

01/05/2005

COB App 1.1.1

Required information

This table belongs to COB 3.9.6 R, COB 4.2.10 R, COB 6.2.16 R, COB 6.2.18R, COB 6.2.41R, COB 6.2.47R, COB 6.4.13R, COB 6.4.25R, COB 6.4.27R, COB 6.5.2R(6), COB 6.5.42R to COB 6.5.44R.

Required information

The supplier

(1)

The name and the main business of the firm, the geographical address at which it is established and any other geographical address relevant to the customer's relations with the firm.

(2)

Where the firm has a representative established in the customer's EEA State or other country of residence, the identity of that representative and the geographical address relevant to the customer's relations with him.

(3)

Where the customer's dealings are with any professional other than the firm, the identity of that professional, the capacity in which he is acting with respect to the customer, and the geographical address relevant to the customer's relations with that professional.

(4)

(a)

For authorised persons:

(i)

the required disclosure statement in GEN 4 Annex 1 (Statutory status disclosure); and

(ii)

the fact that the person is entered on the FSA Register and his FSA registration number.

(b)

For unauthorised persons:

(i)

where the person's activity is subject to an authorisation scheme, the particulars of the relevant supervisory authority; and

(ii)

where the person is registered in a trade or similar public register, the trade register in which the person is registered and his registration number or an equivalent means of identification in that register.

The financial service

(5)

A description of the main characteristics of the service the firm will provide.

(6)

The total price to be paid by the customer to the firm for its services, including all related fees, charges and expenses, and all taxes paid through the firm or, where an exact price cannot be indicated, the basis for the calculation of the price enabling the customer to verify it.

(7)

Notice of the possibility that other taxes or costs may exist that are not paid through the firm or imposed by it.

(8)

Details of any specific additional cost to the customer for using a means of distance communication.

(9)

Where relevant, notice indicating that the service involves special risks related to its specific features or the operations to be executed or whose price depends on fluctuations in the financial markets outside the firm's control and that past performance is no indicator of future performance.

(10)

Any limitations of the period for which the information provided is valid.

(11)

The arrangements for payment and performance.

The contract

(12)

In relation to services performed permanently or recurrently, the minimum duration of the contract.

(13)

The EEA State or States whose laws are taken by the firm as a basis for the establishment of relations with the retail customer prior to the conclusion of the contract.

(14)

Any contractual clause on law applicable to the contract or on competent court, or both.

(15)

The language in which the contract is supplied and in which the firm will communicate during the course of the contract.

(16)

Information on any rights the parties may have to terminate the contract early or unilaterally under its terms, including any penalties imposed by the contract in such cases.

(17)

The existence or absence of a right to cancel under COB 6.7 and, where there is such a right:

(a)

its duration and the conditions for exercising it, including information on the amount which the customer may be required to pay (or which may not be returned to the customer) in accordance with COB 6.7.52R(1)(b), as well as the consequences of not exercising it; and

(b)

practical instructions for exercising the right to cancel, including as a minimum the method in COB 6.7.42R(1) and details of the address to which any cancellation notice should be sent.

Redress

(18)

How to complain to the firm, whether or not complaints may subsequently be referred to the Financial Ombudsman Service and information about any other applicable named complaints scheme.

(19)

Whether or not compensation may be available from the compensation scheme should the firm be unable to meet its liabilities, and information about any other applicable named compensation scheme; and, for each applicable scheme, the extent and level of cover and how further information can be obtained. (See the example in COB 5.5.11 G (Investment firms: compensation information)).

01/05/2005