MCOB - Financial Promotions Course

The Mortgage Conduct of Business (MCOB) for Financial Promotions applies to financial promotions in the home finance business. These rules state that all financial promotions need to be approved by an authorised person.

Financial promotions are defined, under MCOB rules, as any communication a business has with new or existing customers that aims to generate new business.

Our MCOB for Financial Promotions Course explains the FCA's conduct of business rules that apply to financial promotions in the home finance business.

About this Course

Available as part of our FCA Compliance Library.

Learning Objectives

This course will prepare your employees to:

Distinguish between real-time and non-real-time promotions
Differentiate between solicited and unsolicited promotions
State and implement the rules for real-time, non-real-time and unsolicited financial promotions
Know how to be fair, clear and not misleading in financial promotions
Understand the record-keeping requirements

Latest Course Updates

Course redesigned with a more modern feel
Full review conducted by an FCA expert
Text & image updates throughout the course

Course outline

Welcome

What are MCOB - Financial Promotions?

What are financial promotions?

Real-time versus non-real-time promotions

- Exercise: Real-time versus non-real-time

Unsolicited real-time promotions

- Unsolicited promotions via social media
- You make the call: Is it permitted?
- Exercise: Unsolicited real-time promotions
- Exercise: Unsolicited real-time promotions-2
- Exercise: Unsolicited real-time promotions-3
- Exercise: Unsolicited real-time promotions-4
- Exercise: Unsolicited real-time promotions-5

Form & content of real-time qualifying credit promotions

- Customer scenario: Real-time promotion
- Customer scenario - 2
- Customer scenario - 3
- Customer scenario - 4
- Scenario: The call centre

MCD financial promotions

- Other rules on MCD financial promotions

Financial promotions: Home purchase plans & home reversion plans

- Form & content of financial promotions for sale & rent back agreements
- Exploiting customers

Form & content of non-real-time promotions

Exercise: Assessing promotions

Confirmation of compliance

Scenarios: Non-real-time promotions

Communication & approval of qualifying credit promotions for overseas persons or firms

- Exercise: Email promotions

Record keeping

Summary

Affirmation

Assessment

Course Specifications

Structure

Approximately 30-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.