The decision record, checked
COBS 4.2.1RL2breachRules
fair_clear_not_misleading_guarantee_claim
COBS 4.2.1 · COBS 4.2 Fair, clear and not misleading communications · effective 2018-10-01 · FCA Handbook(1) A firm must ensure that a communication or a financial promotion is fair, clear and not misleading. (2) This rule applies in relation to: (a) a communication by the firm to a customer in relation to designated investment business which is not MiFID, equivalent third country or optional exemption business , other than a third party prospectus ; (aa) a communication to an eligible counterparty that is in relation to: (i) MiFID or equivalent third country business other than a third party prospectus ; or (ii) insurance distribution ; (ab) a communication by the firm to a customer in relation …
COBS 4.5.2R(2)L4breachRules
benefits_balanced_by_prominent_risk_indication
COBS 4.5.2 · COBS 4.5 Communicating with retail clients (non-MiFID provisions) · effective 2023-02-01 · FCA HandbookA firm must ensure that information: (1) includes the name of the firm (and also, where relevant, the name of the firm that has confirmed the compliance of the financial promotion for the purposes of COBS 4.10.9AR(3)(a) ); (1A) where relevant, includes the date on which the financial promotion was approved ; (2) is accurate and always gives a fair and prominent indication of any relevant risks when referencing any potential benefits of relevant business or a relevant investment ; (3) is sufficient for, and presented in a way that is likely to be understood by, the average member of the group t…
COBS 4.2.1RL4breachRules
capital_at_risk_not_disguised_as_riskless
COBS 4.2.1 · COBS 4.2 Fair, clear and not misleading communications · effective 2018-10-01 · FCA Handbook(1) A firm must ensure that a communication or a financial promotion is fair, clear and not misleading. (2) This rule applies in relation to: (a) a communication by the firm to a customer in relation to designated investment business which is not MiFID, equivalent third country or optional exemption business , other than a third party prospectus ; (aa) a communication to an eligible counterparty that is in relation to: (i) MiFID or equivalent third country business other than a third party prospectus ; or (ii) insurance distribution ; (ab) a communication by the firm to a customer in relation …
COBS 4.2.1RL6breachRules
government_backing_claim_not_misleading
COBS 4.2.1 · COBS 4.2 Fair, clear and not misleading communications · effective 2018-10-01 · FCA Handbook(1) A firm must ensure that a communication or a financial promotion is fair, clear and not misleading. (2) This rule applies in relation to: (a) a communication by the firm to a customer in relation to designated investment business which is not MiFID, equivalent third country or optional exemption business , other than a third party prospectus ; (aa) a communication to an eligible counterparty that is in relation to: (i) MiFID or equivalent third country business other than a third party prospectus ; or (ii) insurance distribution ; (ab) a communication by the firm to a customer in relation …
COBS 4.2.1RL3breachRules
isa_eligibility_representation_not_misleading
COBS 4.2.1 · COBS 4.2 Fair, clear and not misleading communications · effective 2018-10-01 · FCA Handbook(1) A firm must ensure that a communication or a financial promotion is fair, clear and not misleading. (2) This rule applies in relation to: (a) a communication by the firm to a customer in relation to designated investment business which is not MiFID, equivalent third country or optional exemption business , other than a third party prospectus ; (aa) a communication to an eligible counterparty that is in relation to: (i) MiFID or equivalent third country business other than a third party prospectus ; or (ii) insurance distribution ; (ab) a communication by the firm to a customer in relation …
COBS 4.12A.20RL8breachRules
prescribed_rmmi_risk_warning_present
COBS 4.12A.20 · COBS 4.12A Promotion of restricted mass market investments · effective 2023-07-03 · FCA Handbook(1) Subject to (1A) below, the second condition is that before communicating the direct offer financial promotion , the firm , or other person communicating the direct offer financial promotion : (a) obtains the retail client's full name; and (b) having obtained the retail client’s name, communicates to that retail client the following personalised risk warning: [Client name], this is a high-risk investment. How would you feel if you lost the money you’re about to invest? Take 2 mins to learn more. (1A) Where the direct offer financial promotion relates to a unit in a long-term asset fund , th…
COBS 4.12A.6RL7breachrejectedGuidance
no_monetary_incentive_to_invest
COBS 4.12A.6 · COBS 4.12A Promotion of restricted mass market investments · effective 2023-02-01 · FCA HandbookThe requirements in this section relating to the provision of risk warnings are in addition, and without prejudice, to firms ’ other obligations in relation to the provision of information.
COBS 4.12A.6R cited as rules, the FCA publishes COBS 4.12A.6 as guidance
COBS 4.7.1RL7breachRules
direct_offer_contains_information_for_informed_assessment
COBS 4.7.1 · COBS 4.7 Direct offer financial promotions · effective 2025-10-23 · FCA Handbook(1) Subject to (3), a firm must ensure that a direct offer financial promotion that is addressed to, or disseminated in such a way that it is likely to be received by, a retail client contains: (a) the information referred to in the rules on information disclosure ( COBS 6.1.4 R , COBS 6.1.6 R , COBS 6.1.7 R , COBS 6.1.9 R , COBS 14.3.2 R , COBS 14.3.3 R , COBS 14.3.4 R and COBS 14.3.5 R ) as is relevant to that offer or invitation; and (b) additional appropriate information about the relevant business and relevant investments so that the client is reasonably able to understand the nature and …
COBS 4.6.2RL2breachRules
past_or_projected_performance_supported_and_caveated
COBS 4.6.2 · COBS 4.6 Past, simulated past and future performance (non-MiFID provisions) · effective 2021-01-01 · FCA HandbookA firm must ensure that information that contains an indication of past performance of relevant business , a relevant investment or a financial index, satisfies the following conditions: (1) that indication is not the most prominent feature of the communication; (2) the information includes appropriate performance information which covers the preceding five years, or the whole period for which the investment has been offered, the financial index has been established, or the service has been provided (where less than five years, or such longer period as the firm may decide), and in every case t…
COBS 4.3.1RL8breachRules
regulator_status_clearly_and_accurately_disclosed
COBS 4.3.1 · COBS 4.3 Financial promotions to be identifiable as such · effective 2026-01-19 · FCA Handbook(1) A firm must ensure that a financial promotion addressed to a client is clearly identifiable as such. [ Note : article 24(3) of MiFID , article 17(2) of the IDD and article 77 of the UCITS Directive ] (2) If a financial promotion relates to a firm's MiFID, equivalent third country or optional exemption business , this rule does not apply to the extent that the financial promotion is a third party prospectus . (3) If a financial promotion relates to a firm's business that is not MiFID or equivalent third country business , this rule applies to communicating or approving the financial promoti…
COBS 4.5.2R(1)L8compliesRules
firm_name_included
COBS 4.5.2 · COBS 4.5 Communicating with retail clients (non-MiFID provisions) · effective 2023-02-01 · FCA HandbookA firm must ensure that information: (1) includes the name of the firm (and also, where relevant, the name of the firm that has confirmed the compliance of the financial promotion for the purposes of COBS 4.10.9AR(3)(a) ); (1A) where relevant, includes the date on which the financial promotion was approved ; (2) is accurate and always gives a fair and prominent indication of any relevant risks when referencing any potential benefits of relevant business or a relevant investment ; (3) is sufficient for, and presented in a way that is likely to be understood by, the average member of the group t…