The UK has now left the EU. We are in a transition period which is due to end on 31 December 2020. While most rules and requirements continue unchanged during the transition for most firms and most clients, it is prudent to keep up to date on the current position and what is likely to happen when the transition period ends.
The FCA has gathered all its BREXIT related information and links here.
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The FCA has announced that it will shortly be undertaking a thematic review to assess the advice consumers are receiving on meeting their income needs in retirement. Why? Previously planned work on this topic (known as ‘Assessing Suitability Review 2’) was paused as a reaction to Covid but the Regulator believes that it is […]
This Consultation Paper is relevant to all FCA and PRA authorised firms and sets out the FCA and PRA proposals for the Management Expenses Levy Limit (MELL) for the Financial Services Compensation Scheme (FSCS) for 2023/24. The FSCS is a fund of last resort to provide compensation for consumers when financial services firms fail. […]
The FCA have advised as follows: “We’re asking a number of firms to complete this survey to help us understand how the current financial climate is impacting FCA solo-regulated firms. We’re planning to send this survey to the relevant firms in Tranche 1, on one of the following dates: Batch 1: to be […]
This consultation primarily affects insurers and insurance intermediaries. In November 2020, the FCA introduced finalised guidance for insurance and premium finance firms to support customers in financial difficulty due to the coronavirus pandemic. It is now consulting on replacing the insurance aspects of the Covid guidance with guidance extended to apply to all […]
Can you advise on Shares?
Paul Jay Compliance 2018, FCA, MiFID, Pension, PI, protection, Register, Security, transfer
What do you do? Your client has inherited some (insert company name) shares and she asks you, as her trusted financial planner, what to do with them. Do you tell her that you don’t advise on individual shares and recommend that she goes to a stockbroker? But wait, that loses you credibility and might […]