Although we know that most firms are aware of the FCA’s post 2014 budget guidance, it is most certainly worthwhile our highlighting and reiterating what is expected of firms in the interim period i.e. up to April 2015.
The FCA’s guidance FG14-03 can be found here and if you have not already done so, please read this carefully. Note in particular the guidance in section 2 that explains what is expected for clients in different stages of the retirement process.
We recommend that you formally document your response to the guidance paper.
FCA provide guidance on SMF16/17 appointments
Richard Foster Compliance FCA, ML, PI, training
Firms should have heads of compliance and money laundering reporting officers (MLROs) who are suitably competent and capable of effectively performing the roles. It is appropriate to carefully consider how individuals can demonstrate this ahead of seeking regulatory approval. The FCA have recently issued guidance which should help firms decide if an individual candidate is […]