BCOBS rule changes to take effect

2 amendments to BCOBS will take effect on 1 December. Under the changes:

• Non-ring fenced bodies will have to provide information to individuals on the key risks to which a non-ring fenced body may be exposed which distinguish it from a ring-fenced body and of any excluded activities or prohibited actions for the purposes of the ring-fencing regime that the firm has, or does, carry on; and
• Banks will have to include prescribed form summary boxes with information about savings accounts when they make direct offer financial promotions.