GLOSSARY

Non real-time financial promotion definition

Published by a LexisNexis Financial Services expert

What does Non real-time financial promotion mean?

A financial promotion made in writing.

This includes invitations and inducements made in brochures, letters, faxes, emails and websites. Exempt professional firms can rely on the article 55 exemption to make non-real time financial promotions about the services they provide in their promotional materials.

Minimise

View the related practice notes about Non real-time financial promotion

COBS 4—Direct offers and cold calls

Scope of this Practice NoteThe Financial Services Authority’s (FCA) rules in chapter 4 of the Conduct of Business sourcebook (COBS 4) apply generally to firms when communicating with a client or potential client when carrying on designated investment business or MiFID, equivalent third country or optional exemption business and when communicating or approving a financial promotion in relation to investment business. This Practice Note explains what direct offer financial promotions and cold calls are and which of the FCA rules apply to them.This Practice Note is part of a series that examines the rules in COBS 4 and should be read in conjunction with the following Practice Notes:•Introduction to the FCA COBS 4 rules•Application of the FCA's COBS 4 rules•FCA COBS 4 rules—Putting together financial promotions•FCA COBS 4 rules—Form and content of promotions•COBS 4—Direct offers and cold calls•COBS 4—Systems, controls and records•COBS 4–Promotion of non-mainstream pooled investments, UCITS and speculative illiquid securitiesAlso, see Practice Note: Enforcement action of non compliant financial promotions which contains details of the main financial promotion enforcement cases.COBS 4 does not cover financial promotions and other communication relating to:•general insurance (see ICOBS 2.2 and Practice Note:

Mortgage and home finance conduct of business—financial promotion and communications regime

Mortgage and home finance conduct of business—financial promotion and communications regime Scope of this Practice Note This Practice Note provides an overview of the financial promotion and communication requirements of the FCA’s Mortgages and Home Finance: Conduct of Business sourcebook (MCOB) contained in MCOB 3A and MCOB 3B. These requirements apply to financial promotions and other communications made by authorised firms to their clients of qualifying credit, home purchase plans (HPPs), home reversion plans (HRPs), and regulated sale and rent back agreements (SRBAs). Qualifying credit is credit provided by a lender (which must be a person who enters into or administers regulated mortgage contracts (RMCs)) and for which the obligation of the borrower to repay is secured, in whole or in part, on land. The Practice Note reflects changes made to MCOB 3A and MCOB 3B which took effect at 11pm on 31 December 2021 as a result of the UK’s decision to leave the EU. For more information about the impact of the UK’s decision to leave the EU on the regulation of mortgage and home finance providers and intermediaries in the UK, see Practice Note: Mortgage Credit Directive (MCD)—essentials. Together, RMCs, HRPs, HPPs and SRBAs are referred to as home finance transactions (MCOB 1.2.2(G)(1)). For more information about the regulation of home finance transactions, see Practice Notes: Regulated mortgage contracts and home finance transactions defined, Arranging

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View the latest UK Parliament Acts documents on Non real-time financial promotion

Financial Services and Markets Act 2000 (2000 c 8)

Financial Services and Markets Act 20002000 CHAPTER 8An Act to make provision about the regulation of financial services and markets; to provide for the transfer of certain statutory functions relating to building societies, friendly societies, industrial and provident societies and certain other mutual societies; and for connected purposes.[14th June 2000]BE IT ENACTED by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—Part I . . .1 . . .. . .2 . . .. . .3 . . .[3A . . .]4 . . .5 . . .6 . . .[. . .][6A . . .]. . .7 . . .. . .8 . . .9 . . .10 . . .11 . . .. . .12 . . .13 . . .. . .14 . . .15 . . .16 . . .17 . . .18 . . .[Part 1A The Regulators][Chapter 1 The Financial Conduct Authority][The Financial Conduct Authority][1A The Financial Conduct Authority][The FCA's general duties][1B The FCA's general duties][1C The consumer protection objective][1D The integrity objective][1E The competition objective][Interpretation of terms used in relation to FCA's general duties][1F Meaning of “relevant markets” in strategic objective][1G Meaning of “consumer”][1H Further interpretative provisions for sections 1B to 1G][1I Meaning of “the UK financial system”][Modifications applying if core activity not regulated by PRA][1IA Modifications applying if core activity not regulated by PRA][Power to amend objectives][1J Power to amend objectives][Recommendations][1JA Recommendations by Treasury in connection with general duties][Guidance about objectives][1K Guidance about objectives][Supervision, monitoring and enforcement][1L Supervision, monitoring and enforcement][Arrangements for consulting practitioners and consumers][1M The FCA's general duty to consult][1N The FCA Practitioner Panel][1O The Smaller Business Practitioner Panel][1P The Markets Practitioner Panel][1Q The Consumer Panel][1R Duty to consider representations made by the Panels][Reviews][1S Reviews][1T Right to obtain documents and information][Chapter 2 The Prudential Regulation Authority][The Prudential Regulation Authority][2A The Prudential Regulation Authority][2AB Functions of the PRA][The PRA's general duties][2B The PRA's general objective][2C Insurance objective][2D Power to provide for additional objectives][2E Strategy][2F Interpretation of

21 Restrictions on financial promotion

(1) A person (“A”) must not, in the course of business, communicate an invitation or inducement[—(a)] to engage in investment activity[, or(b) to engage in claims management activity].(2) But subsection (1) does not apply if—(a) A is an authorised person; or(b) the content of the communication is approved for the purposes of this section by an authorised person.(3) In the case of a communication originating outside the United Kingdom, subsection (1) applies only if the communication is capable of having an effect in the United Kingdom.

Non real-time financial promotion is referenced 2 in UK Parliament Acts

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View the latest Halsbury's Laws of England documents on Non real-time financial promotion

250. Insurance documents.

250. Insurance documents. Insurance documents must appear to be issued and signed by insurance companies or underwriters, or their agents1. If there is more than one original, all the originals must be presented2. Cover notes issued by brokers will not be accepted3. Banks will accept an insurance policy in lieu of a certificate or a declaration under an open cover4.Unless it is clear otherwise from the insurance document, the date of the document must be no later than the date of shipment5.The amount of coverage must be indicated and be in the same currency as

260. Estoppel, waiver and ratification.

260. Estoppel, waiver and ratification. The provisions relating to examination and rejection of documents1 provide an estoppel against a bank which fails to act in accordance with them, and/or fails to hold the documents at the disposal of, or to return them to, the presenter. An estoppel may also arise between the beneficiary and the confirming or issuing bank2, or between a bank authorised to pay and the issuing bank3.Under the Uniform Customs and Practice for Documentary Credits, a rejection notice must state all the discrepancies in respect of which the bank refuses the documents4. It follows

Non real-time financial promotion is referenced 4 in Halsbury's Laws of England

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