The latest round of FCA Business Risk Awareness Workshops (BRAW) have been announced for the North-East and North Yorkshire and will take place over coming weeks.
The relevant postcodes are DH, DL, HG, LS, NE, SR, TS, BD, BB, CA, LA.
You should have received an invitation if you are in one of these postcodes.
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These are important events. They form part of the FCA’s approach to supervising smaller firms.
If you haven’t received an invitation, check SPAM etc, and if need be contact the FCA.
It is important that you make every effort to attend.
Re-familiarise yourselves with the Business Risk Awareness assessment process here of which these workshops are only the first part. They will be followed up by regulatory reviews and potentially further follow-up work.
If you need any support or preparation assistance, please contact us here.
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.