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[Note: ESMA has also issued guidelines under article 16(3) of the ESMA Regulation on complex debt instruments and structured deposits , 4 February 2016/ESMA/2015/1787 (EN) .
You are viewing COBS 10A.1 Application as of . COBS 10A.1 Application was last updated on 06/04/2026.

COBS 10A.1 Application

06/04/2026R

This chapter applies to a firm which:

  1. (1) provides investment services in the course of MiFID or equivalent third country business; or
  2. (2) carries on insurance distribution in relation to insurance-based investment product,

other than when the firm makes a personal recommendation, is providing targeted support or carries out portfolio management.

06/04/2026R

This chapter applies to a firm which assesses appropriateness on behalf of a MiFID investment firm so that the other firm may rely on the assessment under COBS 2.4.4R (Reliance on other investment firms: MiFID and equivalent business).

Application to services in relation to insurance-based investment products

23/10/2025R

The only rules in this chapter which apply to a firm when carrying on insurance distribution in relation to an insurance-based investment product are:

(1) those which implemented the IDD; and

(2) those which are derived from the IDD Regulation.

23/10/2025G

For the purposes of COBS 10A.1.5R, if a rule implemented a requirement of the IDD or is derived from the IDD Regulation, a note (“Note:”) to that effect follows the relevant rule.