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.
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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.
The FCA is encouraging firms to ensure they are registered on Connect.
The FCA has stated its position on phoenixing type practices.
There is an ever increasing use of DFM solutions for client portfolios but many firms might not have authority to refer clients to a DFM.
The FCA has issued some further gudance for firms.
FCA letter to DB Transfer firms
Alistair MacDougall Compliance 2019, FCA, Pension, Pension Transfer
The FCA is writing to around 1700 firms requesting that firms review their transfer advice processes and report back.