FCA suitability report good practice states that you should use “clear and plain language” and that “overly long reports may reduce a customer’s ability to consider the recommendations being made”.
A good report will cut to the chase and explain concisely the reasons for the recommendation (the reasons WHY) and should not replicate what is contained in other documents, only refer to them.
Supporting information (for example, Glossary of Terms, Attitude to Risk definitions, Fact Find snapshot) should wherever possible be contained in appendices so that the reasons why are not diluted.
FCA expectations in relation to remote or hybrid working
Alistair MacDougall Compliance Call Recording, COVID-19, FCA, PI, protected, protection, recording, Register, Senior Manager, training
The coronavirus (Covid-19) pandemic has resulted in many firms adopting remote working for some or all employees. Indeed, some of you reading this article right now might well be in a kitchen or home office, in permanent dress down mode (remember when that only happened on the last Friday of the month?) and perhaps even […]