COBS 6.5.1 Application
Past version: effective from 21/10/2015 - 20/10/2015
To view other versions open the versions tab on the right
(a) The Rules in this section do not apply to an Authorised Person with respect to any Transaction which:
(i) it undertakes with a Market Counterparty;
(ii) it carries out for the purposes of managing a Fund of which it is the Fund Manager; or
(iii) is an Execution-Only Transaction.
(b) Where an Authorised Person undertakes an Execution-Only Transaction with or for a Client, the Authorised Person is not relieved from providing best execution in respect of any aspect of that Transaction which lies outside the Client's specific instructions.