In any advice scenario, it is good practice to ensure that the client is clear about what service is to be provided and what the cost will be. It is also a rule requirement: COBS 6.1.9 – “A firm must provide a client with information on costs and associated charges …” COBS 6.1.11 […]
The FCA has published details of its new approach to consumer protection, which the regulator hopes will give consumers the confidence to invest. It is hoped that the strategy will lead to fewer people being scammed or persuaded to invest in products too risky for their needs. The FCA will publish metrics to assess whether […]
ATEB has worked with many firms over the past few years in relation to defined benefit pension transfer advice. This is due in part to the significant increase in pension transfer activity following the ‘freedoms’ that came in with the Pensions Act 2015 and in part due to the deluge of rule changes introduced by […]
Even with all the deferrals of deadlines around implementation of the SMCR as a result of COVID, firms should now be well into business as usual mode with all aspects of SMCR. In particular, all staff covered by SMCR should have received communications and training around the Conduct Rules. Ideally, conditions of employment should also […]
The FCA has recently issued a reminder to firms about forthcoming changes to the UK telephone system. The current analogue phone network (known as the Public Switched Telephone Network or PSTN) is starting to be switched off across the UK. It will be completely decommissioned by the end of 2025, migrating to a […]
We’re writing to inform you of a couple of changes we have made to ATEB Suitability. What does this mean for me? Following the recent rebrand of Standard Life, we have made the following changes to the ‘Providers/Platforms’ feature of Content Management: Standard Life now renamed abrdn Standard Life Elevate now renamed abrdn Elevate Standard […]
FT Adviser published an article on 21 September under the heading ‘How to advise on DB transfers’. We would like to think that all published content is technically accurate, especially so when it is presented as CPD. However, this particular article was inaccurate on two counts. The purpose of this article is to confirm the […]
Following the recent FCA changes to combined AR applications with the Approved Persons applications on 16th September, some firms who submitted prior to 16th are seeing a warning message advising them that the application cannot proceed until the Approved Person form is added. The FCA has clarified that firms should ignore this warning message for […]
Redirect links from fsa.gov.uk to fca.org.uk will stop working on 1 October 2021. After 8 years, the fsa.gov.uk redirects are due to be switched off as part of decommissioning. Ahead of this, firms should review any website links to fsa.gov.uk and update them to the relevant fca.org.uk links.
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FCA expectations in relation to remote or hybrid working
Alistair MacDougall Compliance Call Recording, COVID-19, FCA, PI, protected, protection, recording, Register, Senior Manager, training
The coronavirus (Covid-19) pandemic has resulted in many firms adopting remote working for some or all employees. Indeed, some of you reading this article right now might well be in a kitchen or home office, in permanent dress down mode (remember when that only happened on the last Friday of the month?) and perhaps even […]