What is the difference between advice, information only and a personal recommendation?
Amongst other things the Finalised Guidance document FG15_1 ‘Retail investment advice: Clarifying the boundaries and exploring the barriers to market development’ looked to explain the differences.
Steve Bailey (ATEB director) recently undertook a critical and detailed examination of the paper for an article compiled for Adviser Business Review.
The article can be accessed here.
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It’s an important read. Firms looking at developing other distribution channels will need to be very careful in their approach. Innovation can create some excellent customer outcomes with the right level of investment and expertise, but beware, because there are some banana skins.
If you are in doubt please refer to your ATEB consultant or contact us here.
See what 2020 has in store.
The FCA has issued a Dear CEO letter with further guidance regarding the approval of financial promotions.
Do your research and due diligence processes stack up in the face of PROD?
Sole traders and Single Director firms might look similar but they are treated differently under SM&CR.
Fifth Money Laundering Directive (5MLD)
Alistair MacDougall Compliance 2018, 2019, 2020, FCA, ML, PI, Update
Changes are effective from 10 January 2020. Make sure you are implementing the rules as required.