PERG 8.19 Additional restriction on the promotion of life policies

Article 10 of the Financial Promotion Order (Application to qualifying contracts of insurance) precludes any of the exemptions from applying to a financial promotion which invites or induces a person to enter into a life policy with a person who is not:

1. (1)

   an authorised person; or

2. (2)

   an exempt person who is exempt in relation to effecting or carrying out contracts of insurance of the class to which the promotion relates; or

3. (3)

   [deleted]

4. (4)

   a company authorised in one of the following countries or states to carry on the class of insurance business being promoted:

   1. (a)

      Guernsey; or

   2. (b)

      the Isle of Man; or

   3. (c)

      Pennsylvania; or

   4. (d)

      Iowa;

   5. (e)

      Jersey.

COBS 4.9.4 R imposes a similar restriction on authorised persons concerning their communicating or approving financial promotions in the precluded circumstances.