- As defined in s 4(1) of Directive 2004/39/EC and 52 of Directive 2006/73/EC
- Chs 6.1A–6.2A of the FSA's Conduct of Business Sourcebook
- Para 7.2.2
- Directives 2004/39/EC and 2006/73/EC
- COBS 6.2A.3R(1)
- COBS 6.2A.11G–13G. This Guidance provides also that the relevant market may be limited by the investment needs and objectives of the client (eg to ethically and socially responsible investments only).
- Bearing in mind that this category will include clients who would fall to be treated as eligible counterparties for other investment services and activities.
- COBS 6.1A.1R
- The interplay with the Commission's recent consultation on Packaged Retail Investment Products is not discussed. Logic suggests that the proposal should apply only to Packaged Retail Investment Products (the definition of which is broadly similar in scope to the retail investment product definition under the RDR).
- COBS 6.1A.4R
- See 36 of the MiFID Level 2 Implementing Directive (Direc tive 2006/73/EC of 10 August 2006).
- Directive 2006/73/EC of 10 August 2006.
- These rules are set out in s 11.6 of the FSA's Conduct of Busi ness Sourcebook.
- As reflected in COB 2.2.3 R, the pre-MiFID FSA prohibition of inducements that was withdrawn on 1 November 2007.
- This includes the high-level duty of firms to act honestly, fairly and professionally in accordance with their client's best inter ests. This duty is derived from 19(1) of MiFID on which the MiFID inducement rule is based.
Law and Financial Markets Review
Volume 5, 2011 - Issue 3