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COBS Client Categorisation training

Six microlessons on client categorization under the FCA Conduct of Business sourcebook: retail clients, professional clients, eligible counterparties, re-categorization and record keeping, with situational tests and a certificate of completion.

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COBS: Client Categorisation (UK) course preview
6Short, TikTok-style microlessonsIn the browser or the iOS and Android apps

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  • 2Assessments
  • 6Microlessons
  • IncludedCertificate of completion
About this course

What the COBS Client Categorisation course covers

This course explains how financial services firms categorize and protect clients under the FCA's Conduct of Business sourcebook (COBS), in six microlessons. It covers the three categories (retail client, professional client and eligible counterparty), the protections each receives and how categorization works service by service. Learners then see how opt-up and opt-down requests are handled, and the governance, record keeping and monitoring that show the FCA a firm categorizes clients correctly.

Learning outcomes

What your people will be able to do

  • Apply the COBS client categorization rules accurately across services
  • Determine retail, professional and eligible counterparty status and the protections that follow
  • Carry out and document suitability and appropriateness assessments for retail clients
  • Assess elective professional clients using the quantitative and qualitative tests
  • Handle opt-up and opt-down requests with written records and client confirmations
  • Keep the governance, records and monitoring that support audits
Course contents

6 microlessons

Each microlesson is a short, TikTok-style video lesson, with knowledge checks along the way.

1Foundations of Client Categorisation under COBS
2Understanding Retail Clients under COBS
3Professional Clients: Per Se and Elective
4Eligible Counterparties under COBS
5Re-categorisation Procedures under COBS
6Record-Keeping, Governance, and Compliance under COBS

  1. Foundations of Client Categorisation under COBS: Why categorization matters and the three client categories.
  2. Understanding Retail Clients under COBS: Retail clients and the protections they receive.
  3. Professional Clients: Per Se and Elective: Per se and elective professional clients and their tests.
  4. Eligible Counterparties under COBS: Eligible counterparties and the rules that still apply.
  5. Re-categorisation Procedures under COBS: Opting up and opting down safely.
  6. Record-Keeping, Governance, and Compliance under COBS: Records, controls and senior accountability.
A 5Mins certificate of completion for COBS: Client Categorisation (UK), lying on a desk next to a laptop
Certificate

A certificate for every learner who completes it

Learners finish every microlesson and complete the assessments. 5Mins then issues a certificate of completion for COBS: Client Categorisation (UK).

  • Certificates and e-signatures stored against each learner
  • Audit-ready records, ready whenever an auditor asks
  • Completion shows on the Compliance Dashboard in real time
Audience and regulation

Who it's for and the law it covers

Who it's for

  • Onboarding, client services and relationship teams at investment firms
  • Advisers, portfolio managers and dealers
  • Compliance and client onboarding reviewers
  • Senior managers responsible for client categorization

Laws covered

  • FCA Conduct of Business sourcebook, COBS 3 (client categorisation). Defines retail clients, per se and elective professional clients and eligible counterparties, and the procedures for re-categorization.
  • UK MiFID requirements. The categories decide which protections apply, such as suitability, appropriateness and best execution.
How it runs in 5Mins

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  • EnrollAuto-enroll

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  • RemindReminders

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  • RepeatRecurrence

    Set the course to repeat, for example every 12 months, and 5Mins re-enrolls people for you.

  • CertifyCertificates

    Certificates and e-signatures are issued and stored for every completion.

  • ProveAudit-ready records

    See who is complete, at risk or overdue on the Compliance Dashboard, and prove it any time.

Customer stories

Compliance teams that swapped chasing for results

Compliance, HR and L&D leaders on what changed when they moved their training to 5Mins. Pick a team to see what changed.

ComplianceCompliance Training Insurance, 205 colleagues 100%

compliance completion and pass rate since go-live

  • ~1 day saved on each compliance course (HR estimate)
  • Automated reminders and reporting

Since go-live, our compliance completion and pass rates are 100%, and it's the quickest we've ever got there. Automated reminders and reporting save us about a day per course.

Laura ChappellLaura ChappellHR Director, Collingwood
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ComplianceCompliance Training Insurance and emergency accommodation 87%

less session time, from 2.5-3 hour sessions to modules of 25 minutes at most

  • 12 monthly sessions a year, up from 3-4
  • 95% content creation time saved

Our compliance sessions used to be two and a half to three hours in a room, and we could fit in three or four a year. Now we cover one topic a month, and I can see exactly what people are retaining.

Lucy WybornLucy WybornDirector of Learning and Development, ICAB
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ComplianceCompliance Training Legal services 80%

completion on mandatory training, up from 20%

  • Mobile microlessons finished between calls
  • Manager view of each team's progress

We were sitting at 20% completion on our mandatory training. We're now at 80%. People finish short lessons between calls, on mobile, and managers can see where their teams are, so chasing completion is no longer a one-person job.

Jamie WaltonJamie WaltonGroup Learning and Development Officer, Winn Solicitors
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ComplianceCompliance Training Fintech and digital banking On demand

training log showing who did what, when, and the pass rate

  • Any device phone or laptop, at their own pace
  • Rolling refreshers through the year

When I engage with the FCA, I can show that every team has had training tailored to their role, that it's up to date, and that it runs throughout the year, with a full log of who's done what.

Abdul GofurAbdul GofurHead of Compliance & Anti-Financial Crime, nsave
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Your questions answered

Questions about COBS Client Categorisation training

How long is the COBS Client Categorisation course?

It's made up of 6 microlessons, each under 5 minutes. Learners can finish it in one sitting or spread it over a few days, and 5Mins sends reminders until it is done.

Is there a certificate?

Yes. Learners get a certificate of completion once they finish every microlesson and the situational tests. The record is stored in 5Mins for audits.

What are the three client categories?

Retail clients, professional clients (per se or elective) and eligible counterparties. Retail clients get the most protection. The first four microlessons cover each category.

Can a client change category?

Yes. A client can ask to opt up to professional treatment, if they pass the tests, or opt down to get more protection. The fifth microlesson covers the written requests, assessments and records needed.

Who should take this course?

Anyone involved in onboarding, advising or dealing for clients at an investment firm, plus compliance and the senior managers who own the categorization process.

Can I try the course first?

Yes. Request a free sample lesson and book a short demo with our team. After your demo, we'll share sample lessons with you so you can see the format for yourself.

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