In our recent article giving an overview of Finalised Guidance (FG 21/3), we indicated that we would pick out a few of the more interesting snippets for a closer look. That is not to imply that the rest of the guidance is of no interest, just a reflection that much of the guidance is a […]
Further to our recent article regarding the FCA’s plans to launch a new online invoicing portal, the FCA has confirmed that the new portal has gone live on schedule, 12 April. As with the previous portal, firms can use the portal to access their invoices and arrange payment of their fees. Visit the FCA website […]
Hot on the heels of our Periodic Review update last week, we have added a new section to the main Suitability Report template to cater for the consideration of Pathway Investments within a retirement recommendation. Whilst we are certain there is no regulatory requirement to mention Pathway Investments within a suitability report, we understand there […]
Alongside the rules introduced in October 2020 by Policy Statement (PS 20/6), the FCA published an accompanying guidance consultation (GC 20/1). That consultation has now resulted in the publication of finalised guidance (FG 21/3). The guidance, which takes effect from 30 March 2021, aims to help advisers understand the FCA’s expectations when advising on pension […]
We completed the latest upgrade to ATEB Suitability on 6th April 2021. This update comes at no additional cost and has focused on upgrading our Costs and Charges & Periodic Review templates. Full details of the enhancements can be found in the tables below, but some of the highlights are: Upgraded ‘Costs and Charges Statement’ […]
The FCA has advised the following: “Many of you will be aware that we issued the first phase of the Covid-19 Impact Survey in June 2020, covering around 13,000 firms across 15 Supervision portfolios (Tranche 1), and then rolled this out to a further 9,500 firms in 21 portfolios (Tranche 2) at the beginning of […]
Firms involved with pension transfer business will know that there is a requirement to consider an available workplace pension (WPS) as the destination for any transferred funds. If the recommendation is to transfer to an alternative proposed arrangement, for example a personal pension/SIPP/flexidrawdown plan, firms have to demonstrate why the scheme they recommend is MORE […]
The FCA has advised as follows. “As you will be aware, all firms with Directory Persons must have certified / assessed their staff and submitted the relevant information to the FCA to ensure they remain compliant with FCA regulatory requirements before 31 March 2021. A number of your members may still be required to submit […]
In readiness for the release of a host of new features, we’re writing to inform you about a scheduled maintenance window affecting access to ATEB Suitability. It has been almost 2 years since we launched our Ex-Ante/Ex-Post Costs and Charges Statement template, designed to assist firms in meeting their disclosure requirements under MiFID II. Since then […]
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FCA whistleblowing campaign
Steve Bailey Compliance 2015, Certification, email, FCA, PI, protected, training
The FCA has launched a whistleblowing campaign ‘in confidence, with confidence’ to encourage individuals working in financial services firms to report potential wrongdoing. Whistleblowing is considered vital to expose poor practice and prevent wrongdoing in activities regulated by the FCA. Firms’ senior management are expected to have effective whistleblowing arrangements in place to enable employees to raise […]