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This could help people pushed into business secured loans when they were in fact consumers? Only future wise I'm thinking but persuasive historically ?
1.2.9D R A firm must not treat a loan as being solely for a business purpose for
the purposes of MCOB unless it has reviewed a business plan provided
by the customer which provides credible evidence that that is the case.
1.2.9E R A firm must not treat a customer as being a professional customer for
the purposes of MCOB unless it has credible evidence that the customer
satisfies the definition.
1.2.9F R A firm must keep the evidence in MCOB 1.2.9CR(1) and MCOB
1.2.9ER, the business plan in MCOB 1.2.9DR and the written statement
in MCOB 1.2.9CR(2) for not less than three years from the date on
which it was obtained or, if later, used to satisfy MCOB 1.2.
1.2.9D R A firm must not treat a loan as being solely for a business purpose for
the purposes of MCOB unless it has reviewed a business plan provided
by the customer which provides credible evidence that that is the case.
1.2.9E R A firm must not treat a customer as being a professional customer for
the purposes of MCOB unless it has credible evidence that the customer
satisfies the definition.
1.2.9F R A firm must keep the evidence in MCOB 1.2.9CR(1) and MCOB
1.2.9ER, the business plan in MCOB 1.2.9DR and the written statement
in MCOB 1.2.9CR(2) for not less than three years from the date on
which it was obtained or, if later, used to satisfy MCOB 1.2.
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