the retail investor transfers all or part of his investment between funds as part of a life insurance. during the previous four quarters, the client carried out significant transactions in the relevant market, with an average frequency of 10 per quarter; to provide a routine service to the retail investor throughout the period during which the company or its partner receives the commission, remuneration or performance of any kind; and 1This section applies to an enterprise that sells a packaged product to a retail investor or arranges the sale and that the services provided by the enterprise to the sale or intermediation are not related to the provision of a personal recommendation2. When a business that is not under (2) provides services to a person acting as trustee of a trust, that person is not the client of the business and the underlying beneficiaries of the trust. 3The insurance mediator shall provide for or advise a life insurance policy in good time before taking out life insurance and, where appropriate, before it is amended; Thus, an insurance intermediary must at least inform the customer whether the company: 2A must provide the information required by COBS 6.1ZA.11R2 and COBS 6.1ZA.12R2 so that the customer can reasonably understand the nature and risks. the investment service and the specific nature of the financial instrument or insurance investment product offered3 and, consequently, of the investment decisions on an informed basis. If, in the course of its designated investment operations, an investment firm has executed an order on behalf of a client, it shall: An investment firm may not use a fee structure that conceals the amount or purpose of one of its advisory fees from a retail investor. . . .