Consumer Duty rules will take full effect from 31 July 2023. However, it is starting to show its face already.
This message is now appearing on Connect in some circumstances.
“The majority of firm types that need to apply for authorisation or existing firms seeking to vary their permissions will need to comply with the new Consumer Duty, as detailed in PS22/9. The application form you are required to complete may have no specific questions relating to the new Consumer Duty rules. However, you should be prepared to supply such evidence as necessary in the application process. The case officer allocated to your firm’s application will advise what information is required to be provided.”
The replacement business blind spot?
Paul Jay Compliance Drawdown, FCA, Pension, PI, platform, Switch, transfer
We’ve been involved with a number of firms who are on the acquisition trail and as part of the due diligence work we support them with, we check a lot of advice files. It won’t come as a surprise that many of these involve replacement business. What never ceases to amaze us is that, despite […]