MIFID II comes into force in January 2018. One requirement will be for advisers to record all conversations with clients.
The FCA has already ruled out requiring face to face conversations to be recorded but is still considering whether to make IFAs record telephone conversations and electronic communications with clients.
A Financial Conduct Authority (FCA) commissioned survey has shown that only 10% of advisers currently record telephone conversations and electronic communications in line with the proposed EU rules.
Financial Sanctions Checks
Shirley McKenzie Compliance Conduct, FCA, PI
In response to Russia’s invasion of Ukraine, the FCA published information about the tranche of sanctions announced in relation to Russia and Belarus and the HM Treasury’s Office of Financial Sanctions Implementation (OFSI) has been regularly updating its publications to provide new information as it becomes available. Financial sanctions – a firm’s obligations The FCA […]