1.) Application and General Provisions of COBS Flashcards
1
Q
Where is the Conduct of Business Sourcebook contained?
A
Within the Business Standards block of the FCA Handbook
2
Q
When did COBS come into force?
A
1st November 2007.
- replacing the old Conduct of Business rules, referred to as COB
3
Q
The aim of COBS
A
To move the regulatory approach towards a better focus on outcomes rather than compliance with detailed and prescriptive rules
4
Q
What are Provisions of MiFID?
A
The provisions of MiFID are high-level Standards, setting standards for business conduct.
- without prescribing how firms should achieve those standard provisions for investment firms
5
Q
Provisions for investment firms
A
COBS contains provisions for investment firms that are not subject to MiFID and also those that are
