Conduct of Business Rulebook (COBS) [VER11.080222]
- COBS 1. INTRODUCTION
- COBS 2. CLIENT CLASSIFICATION
- COBS 3. CORE RULES — INVESTMENT BUSINESS, ACCEPTING DEPOSITS, PROVIDING CREDIT AND PROVIDING TRUST SERVICES
- COBS 4. ADDITIONAL RULES — ACCEPTING DEPOSITS AND PROVIDING CREDIT
-
COBS 5. ADDITIONAL RULES — PROVIDING TRUST SERVICES
- COBS 5.1 Application
- COBS 5.2 General
- COBS 5.3 Exercise of Discretion
- COBS 5.4 Delegation of Duties or Powers
- COBS 5.5 Reviews
- COBS 5.6 Professional Indemnity Insurance Cover
- COBS 5.7 Dual Control
- COBS 5.8 Internal Reporting
- COBS 5.9 Recording of Selection Criteria
- COBS 5.10 Qualification and Experience of Trust Service Provider Staff
- COBS 5.11 Books and Records
- COBS 5.12 Due Diligence
- COBS 5.13 Fitness and Propriety of Persons Acting as Trustees
-
COBS 6. ADDITIONAL RULES — INVESTMENT BUSINESS
- COBS 6.1 Application
- COBS 6.2 Personal Account Transactions
- COBS 6.3 Record Keeping
- COBS 6.4 Investment Research and Offers of Securities
- COBS 6.5 Best Execution
- COBS 6.6 Non-market Price Transactions
- COBS 6.7 Aggregation and Allocation
- COBS 6.8 Record Keeping
- COBS 6.9 Other Dealing Rules
- COBS 6.10 Confirmation Notes
- COBS 6.11 Periodic Statements
-
COBS 7 CORE RULES — INSURANCE
- COBS 7.1 Application
- COBS 7.2 Insurance Business and Intermediation Restrictions
- COBS 7.3 Communication of Information and Marketing Material
- COBS 7.4 Client's Duty of Disclosure
- COBS 7.5 Authorised Person's Duty of Disclosure
- COBS 7.6 Disclosure of Costs and Remuneration
- COBS 7.7 Information about the Proposed Insurance
- COBS 7.8 Suitability
- COBS 7.9 Placement of Insurance
- COBS 7.10 Providing an Ongoing Service
- COBS 7.11 Insurance Monies
-
COBS 8. ADDITIONAL RULES: OPERATING AN MTF OR OTF
- COBS 8.1 Application and interpretation
- COBS 8.2 Rules Applicable to MTF and OTF Operators — General
- COBS 8.3 Rules Applicable to MTF and OTF Operators — Transparency
- COBS 8.4 Rules Applicable to MTF and OTF Operators and rules on Liquidity providers
- COBS 8.5 Rules Applicable to MTF Operators
- COBS 8.6 Rules Applicable to OTF Operators
-
COBS 9. CORE RULES — OPERATING A CREDIT RATING AGENCY
- COBS 9.1 Application
- COBS 9.2 Quality of the rating process
- COBS 9.3 Application to Groups and Branches
- COBS 9.4 Monitoring and Updating
- COBS 9.5 Integrity of the Rating Process
- COBS 9.6 Credit Rating Agency Independence — General
- COBS 9.7 Credit Rating Agency Independence — Procedures and Policies
- COBS 9.8 Analyst and Employee Independence
- COBS 9.9 Transparency and Timeliness of Ratings Disclosure
- COBS 9.10 Confidential Information
- COBS 9.11 Communication with Market Participants
- COBS 9.12 Provision of consultancy and ancillary services
- COBS 9.13 Credit Rating Agency fees
- COBS 9.14 Remuneration and reporting lines
- COBS 9.15 Record keeping
- COBS 10. CORE RULES — OPERATING A CENTRAL SECURITIES DEPOSITORY
- COBS 11. RECORDS OF ORDERS AND TRANSACTIONS
- COBS 12. KEY INFORMATION AND CLIENT AGREEMENT
- COBS 13. PERIODIC STATEMENTS
- COBS 14. CLIENT MONEY AND RELEVANT MONEY PROVISIONS
-
COBS 15. SAFE CUSTODY PROVISIONS
- COBS 15.1 Application
- COBS 15.2 General Requirements
- COBS 15.3 Recording, Registration and Holding Requirements
- COBS 15.4 Client Accounts in relation to Client Investments
- COBS 15.5 Holding or Arranging Custody with Third-Party Agents
- COBS 15.6 Safe Custody Agreements with Third-Party Agents
- COBS 15.7 Client Disclosure
- COBS 15.8 Client Reporting
- COBS 15.9 Reconciliation
- COBS 15.10 Auditor's Reporting Requirements
- COBS 16. RECOVERY AND RESOLUTION PLANNING FOR CLIENT MONEY, RELEVANT MONEY AND SAFE CUSTODY ASSETS
-
COBS 17. ADDITIONAL RULES — AUTHORISED PERSONS CONDUCTING A REGULATED ACTIVITY IN RELATION TO VIRTUAL ASSETS
- COBS 17.1. Application and Interpretation
- COBS 17.2. Accepted Virtual Assets
- COBS 17.3. Capital Requirements
- COBS 17.4. International Tax Reporting Obligations
- COBS 17.5. Technology Governance and Controls
- COBS 17.6. Additional disclosure requirements
- COBS 17.7. Additional Rules Applicable to an Authorised Person Operating a Multilateral Trading Facility in relation to Virtual Assets
- COBS 17.8. Additional Rules Applicable to an Authorised Person Providing Custody in relation to Virtual Assets
- COBS 18. OPERATING A PRIVATE FINANCING PLATFORM
-
COBS 19. PAYMENT SERVICES
- COBS 19.1 Application
- COBS 19.2 Framework Contracts
- COBS 19.3 Low-Value Payment Instruments governed by a Framework Contract
- COBS 19.4 Single Payment Service Contracts
- COBS 19.5 Information required after the initiation of a Payment Order
- COBS 19.6 Disapplication of requirements for non-Natural Persons
- COBS 19.7 Safeguarding requirements
- COBS 19.8 Record keeping
- COBS 19.9 Payment Accounts and outsourcing of operational functions
- COBS 19.10 Authorisation of Payment Transactions
- COBS 19.11 Obligations of the Payment Service Provider in relation to Payment Instruments
- COBS 19.12 Payment Transactions where the transaction amount is not known in advance
- COBS 19.13 Requests for refunds of Money for Payment Transactions initiated by or through a Payee
- COBS 19.14 Execution of Payment Transactions
- COBS 19.15 Execution time and Credit Value Date
- COBS 19.16 Authentication
- COBS 19.17 Notification and rectification of unauthorised or incorrectly executed Payment Transactions
- COBS 19.18 Evidence on authentication and execution of Payment Transactions
- COBS 19.19 Payment Service Provider’s liability for unauthorised Payment Transactions
- COBS 19.20 Payer or Payee’s liability for unauthorised Payment Transactions
- COBS 19.21 Non-execution or defective or late execution of Payment Transactions
- COBS 19.22 Dispute resolution
- COBS 19.23 Risk mitigation and Reporting
-
COBS 20. THIRD PARTY PROVIDERS
- COBS 20.1 Application
- COBS 20.2 Contractual Arrangements
- COBS 20.3 Information requirements required after the initiation of a Third Party Transaction
- COBS 20.4 Disapplication of requirements for non-Natural Persons
- COBS 20.5 Record keeping
- COBS 20.6 Outsourcing of Operational Functions
- COBS 20.7 Authorisation of Third Party Transactions
- COBS 20.8 Execution of Third Party Transactions
- COBS 20.9 Authentication
- COBS 20.10 Notification of unauthorised or incorrectly executed Third Party Transactions
- COBS 20.11 Evidence on authentication and execution of Third Party Transactions
- COBS 20.12 Liability
- COBS 20.13 Dispute resolution
- COBS 20.14 Reporting and Risk mitigation