Sections

• Complaints
• Independent Status
• Commission Disclosure
• Training & Competence
• Financial Promotions
• How to Join Ecompli

What are the rules under MCOB if I want to disclose myself as independent?

If a firm describes itself as "independent", it must intend to:

• offer a whole of market service; and 
• give the consumer the choice to pay a fee as the only remuneration for the service.

Can I call my firm independent under ICOB?

The FSA have not included a definition of the term “independent” in the ICOB rules. In deciding whether to call your business independent you need to take into account the rules in ICOB 2.2.3R and ICOB 3.8.1R (1) requiring firms to be clear, fair and not misleading in all their communications including non-investment financial promotions. You need to consider whether stating you are 'independent' would be in breach of these rules, if you wish to discuss this further please contact us on 01254 675 674 or email ecompli