Home FCA Handbook COBS COBS 13 COBS 13.1 The obligation to prepare product information
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COBS 13.1 The obligation to prepare product information

Non-CCI packaged products, cash deposit ISAs and cash-deposit CTFs

06/04/2026R

A firm must prepare:

  1. (1)

     a key features document for each non-CCI packaged product, cash-deposit ISA, cash-only lifetime ISA and cash-deposit CTF it produces; and

  2. (2)

     a key features illustration for each non-CCI packaged product it produces;

in good time before those documents have to be provided.

Consumer composite investments

06/04/2026G

  1. (1)

     DISC requires the manufacturer of a consumer composite investment to prepare a product summary and core information disclosures in accordance with DISC in good time before that consumer composite investment is made available for distribution to retail investors.

  2. (2)

     Since DISC imposes requirements in relation to the preparation of product information for consumer composite investments, the rules in COBS 13.1 to COBS 13.4 do not apply to a firm in relation to the manufacture of a consumer composite investment (except where applicable to Solvency II Directive information). COBS 13.5 and COBS 13.6 continue to apply where relevant.

Information on life policies

01/01/2016R

A firm must prepare the Solvency II Directive information for each life policy it effects:

  1. (1)

    in a clear and accurate manner and in writing; and

  2. (2)

    in an official language of the State of the commitment, or in another language if the policyholder so requests and the law of the State of the commitment so permits or the policyholder is free to choose the law applicable;

in good time before that information has to be provided.

[Note: article 185(1) and (6) of the Solvency II Directive]

06/04/2026G

A firm that effects life policies which are also consumer composite investments should consider the requirements in DISC to provide a product summary.

Exceptions

06/04/2020R

A firm is not required to prepare:

  1. (1)

    a document, if another firm has agreed to prepare it; or

  2. (2)

    a key features document for:

    1. (a)

      a unit in a regulated collective investment scheme; or

    2. (b)

      [deleted]

    3. (c)

      [deleted]

    4. (d)

      a stakeholder pension scheme, or personal pension scheme that is not a personal pension policy, if the information appears with due prominence in another document; or

    5. (e)

      an interest in an investment trust savings scheme; or

  3. (3)

    a key features illustration:

    1. (a)

      for a unit in a regulated collective investment scheme; or

    2. (b)

      [deleted]

    3. (c)

      if it includes in a key features document;

      1. (i)

        the information from the key features illustration; and

      2. (ii)

        the summary key information required by COBS 13.4.1AR; or

    4. (d)

      [deleted]

    5. (e)

      for an interest in an investment trust savings scheme.

  4. (4)

    [deleted]