Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Conduct definition

What does Conduct mean? Conduct describes an employee’s behaviour at work (acts or omissions) against contractual terms, workplace policies and expected standards. In UK employment law, conduct is a potentially fair reason for dismissal under the Employment Rights Act 1996 s.98(2)(b), although the term is not defined in statute. Fairness is assessed under s.98(4) and the Acas Code of Practice on disciplinary and grievance procedures. Case law (including the Burchell test) requires a reasonable investigation, a genuine belief on reasonable grounds that misconduct occurred, and a sanction within the range of reasonable responses. Serious or deliberate misconduct may amount to gross misconduct...

UK FCA insurance conduct regime—COBS v ICOBS: scope, key differences and obligations for insurers and intermediaries, and recent reforms (IDD, MiFID II, PRIIPs, Solvency UK, PS25/21)

Published by a LexisNexis Financial Services expert

Practice notes

Scope and purpose of COBS and ICOBS

This Practice Note offers a summary of the Financial Conduct Authority’s (FCA’s) Conduct of Business sourcebook (COBS) and Insurance: Conduct of Business sourcebook (ICOBS) as they relate to insurers, identifies important differences in their scope, and sets out the duties COBS and ICOBS impose on insurance intermediaries. COBS and ICOBS prescribe conduct standards for insurers and intermediaries across the full product journey—from sale to claim—and require firms to treat policyholders fairly. COBS applies when a firm undertakes long-term insurance business in connection with life policies or designated investment business. ICOBS governs a firm’s general insurance business and pure protection insurance business (that is, non-investment insurance). Each sourcebook applies where a firm carries on business from a UK establishment maintained by it or by its appointed representative. Broadly, COBS is wider in scope and more demanding than ICOBS, reflecting the types of business it covers. COBS generally addresses long-term arrangements with fees that arise over time or recur. ICOBS relates to general insurance, which is frequently bought with a single premium and renewed each year...

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Web page updated on 22/05/2026

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