Lies, damned lies, and statistics.
The FCA has issued the first of its Data Bulletins. It is designed to pass on some of the statistical information they hold. It is an interesting read.
Did you know that:
- Of all the firms it authorises, 28% are general insurance intermediaries, 27% are personal investment firms and 7% are mortgage related businesses;
- 34% of authorised firms are located in Central and Greater London, while the north-east has the lowest concentration with only 2%;
- PPI remains the most complained about product and that nearly £16 billion (yes billion) has been paid out to date in PPI compensation.
You can find the bulletin here.
You may be interested to know that the phrase “Lies, damned lies, and statistics” was popularised by Mark Twain who attributed it to the 19th-century British Prime Minister Benjamin Disraeli (1804–1881), although the phrase is not found in any of Disraeli’s works and is therefore often attributed to Twain himself.
Advising non-UK clients
Alistair MacDougall Compliance Conduct, EEA, email, EU, FCA, MiFID, passport, PI, vulnerable
Despite the fact that the UK ceased to be a member of the EU/EEA almost a year ago, we are still asked for advice around how a UK firm can take on a new non-UK client or continue to deal with such clients that the firm had pre-BREXIT. We have written before about the general […]