Which FCA sourcebook governs endowment policies?

The governing sourcebook for endowment policies is indeed the Conduct of Business Sourcebook (COBS). COBS is a part of the Financial Conduct Authority's (FCA) rulebook that outlines the conduct requirements for firms providing financial services. Specifically, it sets out the principles and rules that firms must follow when dealing with various financial products, including life assurance products such as endowment policies.

Endowment policies are life insurance products that also serve as a savings vehicle, paying out a lump sum either upon maturity or upon the death of the policyholder. Therefore, they fall under the regulatory standards set by COBS, which emphasizes transparency, fair treatment, and appropriate disclosure to clients.

This sourcebook aims to protect consumers and ensure that they receive adequate information about the products they are considering, thereby promoting informed decision-making. The rules contained within COBS are crucial for firms when communicating with clients and when advising them on financial matters related to endowment policies and similar products.