Post by Mousey on Jun 1, 2022 10:26:54 GMT
COBS 4.14.6 dated 1/1/2020 and COBS 4.14.9 dated 1/1/2021 says:
And both versions of the COBS contain a statement that must be agreed by an investor:
Can anyone advise if previous versions exist? Eg What warning were required to be given in 2016?
This is in the context of an FCA e-mail in April 2016 mooting "the risk of complete capital loss to consumers and previous financial promotion failings"
And an e-mail in 2017: "Instead, if there were some form of access restriction (e.g. retail investment limits), or an explicit acknowledgment that we expect that retail consumers will lose some or all of their investment, then we would no longer need to apply that significant level of regulatory scrutiny"
So what restrictions did apply?!
The financial promotion must contain the following risk warning:
You could lose all of your money invested in this product.
This is a high-risk investment and is much riskier than a savings account
You could lose all of your money invested in this product.
This is a high-risk investment and is much riskier than a savings account
And both versions of the COBS contain a statement that must be agreed by an investor:
I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested.
Can anyone advise if previous versions exist? Eg What warning were required to be given in 2016?
This is in the context of an FCA e-mail in April 2016 mooting "the risk of complete capital loss to consumers and previous financial promotion failings"
And an e-mail in 2017: "Instead, if there were some form of access restriction (e.g. retail investment limits), or an explicit acknowledgment that we expect that retail consumers will lose some or all of their investment, then we would no longer need to apply that significant level of regulatory scrutiny"
So what restrictions did apply?!
