Conduct of Business COBS | Record Keeping for Client Agreements | Rights and Obligations | | Mortgage Conduct of Business MCOB | Template for FCA Applications and Authorised Firms

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Client Agreements (COBS 8)

[*DELETE if this COBS regulation does not apply to your business type]

The company confirms that where we carry on any designated investment business, other than advising on investments or advising on conversion or transfer of pension benefits, with or for a new retail client, we always enter into a written basic agreement, on paper or other durable medium, with the client setting out the essential rights and obligations of both us and the client.

[INSERT your Basic Written Agreement Template if applicable]

The company confirms that, in good time before a retail client is bound by any agreement relating to designated investment business or ancillary services or before the provision of those services, that we always provide the client with: –

• the terms of any such agreement
• the information about the company and our services relating to the agreement or to those services required by COBS 6.1.4 R, including information on communications, conflicts of interest and authorised status
• the agreement and information in a durable medium or, ensuring that our website meets the required conditions, provide the information via our website
• the agreement and the information immediately after the client are bound by any such agreement if: –

• • we were unable to comply with clause 1 above because, at the request of the client, the agreement was concluded using a means of distance communication which prevented us from doing so; and
  • if the rule on voice telephony communications (COBS 5.1.12 R) does not otherwise apply, we comply with that rule in relation to the retail client, as if he were a consumer

The company will always: –

• notify a client in good time about any material change to the information provided under this rule which is relevant to a service that we are providing to that client
• provide the notification in a durable medium if the information to which it relates was given in a durable medium

5.3.1 Record Keeping for Client Agreements

The company has in place procedures and systems for keeping records of all agreements and associated documents with our clients as they pertain to the COBS 8 requirements. We have ensured that the records we keep record the: –

• Client Agreement
• Clients rights and obligations
• Our obligations
• Any other applicable terms and conditions

As per our COBS 8 obligations and our standard record keeping procedures, client agreements and associated documents are: –

• Maintained for at least whichever is the longer of: –
  • 5 years; or
  • the duration of the relationship with the client; or
  • in the case of a record relating to a pension transfer, pension conversion, pension opt-out or FSAVC, indefinitely.