The FCA has published an alert to all Principals, regardless of sector, who have one or more Appointed Representatives or Introducer Appointed Representatives (‘ARs’). Principals are responsible for the regulated activities of their ARs. The alert sets out the risks that the FCA expects firms to consider and act upon, where relevant.
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
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This is a follow up to previous alerts about the risks involved in dealing with Introcuders. All Principal and Appointed Representative firms should read it.
For information.
It is likely that all our readers have heard of cryptocurrency, probably in the guise of Bitcoin. This cryptocurrency and its compatriots such as litecoin, ether and dogecoin (which started as an internet joke about a dog), are increasingly in the news, usually because of large surges or drops in value. The principles underlying cryptocurrency […]
In its June quarterly consultation paper, the FCA announced proposals to make amendments to the Handbook relating to its powers to vary or cancel the permissions of firms authorised under Part 4A of the Financial Services and Markets Act 2000 (FSMA) to carry on FCA regulated activities. In the Financial Services Act 2021, which has […]
It will be a surprise to few in our industry that those firms involved in defined benefit pension transfer business have been under increasingly intense scrutiny over the past 18-24 months. ATEB has been engaged by many of those firms to assist them in dealing with the Regulator’s requirements for information, sample file checking, full […]
Following a series of market studies and guidance papers, that can all be accessed here; the FCA issued a policy statement to implement rules to ensure consumers receive fair value in home and motor insurance markets. While we will have all seen the headline message that “renewing home and motor insurance consumers are quoted prices […]
Abridged advice – how is it going so far?
Alistair MacDougall Compliance 2015, 2018, 2020, 2021, abridged, Drawdown, FCA, Pension, Pension Transfer, PI, transfer
Based on data and live visits to firms during the period from April 2015 to rule changes in 2018 and 2020, the FCA believed that far too high a proportion of clients were being recommended to transfer safeguarded benefits. This was predicated on the longstanding rule which stated: “… a firm should start by assuming […]