According to COBS 12, which of the following is a condition for dealing from a firm's own account?

Dealing from a firm's own account, as regulated under COBS 12, requires that clients must have had a reasonable time to react before proceeding with transactions. This requirement is in place to ensure that clients are adequately informed and have the opportunity to understand the implications of the trade before it is executed. It aims to protect clients by ensuring they are not pressured or rushed into decisions, thus promoting a fair trading environment.

Having a reasonable time to react implies that the firm is taking the necessary precautions to uphold transparency and customer rights, which are central to regulatory expectations in financial services. By allowing clients this time, the firm demonstrates a commitment to responsible practices in its dealings, ensuring that clients can make informed decisions based on accurate and timely information regarding the trades.

The other options do not address the essential requirement stipulated in the regulation regarding the timing and consideration given to clients before transactions are executed.