Regulatory Roundup 17 referred to proposed changes to COBS 2.2 (‘Information disclosure before providing services’) to require a firm, when managing investments for a professional client (that is not a natural person), to disclose its adherence to the Stewardship Code (venture capital firms will be excluded from the proposed requirement).
The requirement came into force 6 December – the link will show the changes to COBS 2.2. The purpose of the rule is to reflect the FSA’s support of the Code’s objectives and not to duplicate the Code’s requirements. Complyport’s clients will have been contacted directly by their relationship managers about the Stewardship Code.
Regulatory Roundup 17 contains useful links to further information on the Stewardship Code.