The Department for Works and Pensions (DWP) has produced a factsheet for pension scheme providers but which will be of interest to advisory firms.
It aims to clarify two issues, namely:
You can access the factsheet here.
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In this age of litigation, it is pretty staggering to see that even the DWP has included a legal disclaimer in this guidance.
Nevertheless, it provides a useful source of information.
Read the factsheet carefully and file for future reference.
A temporary solution if there are problems obtaining an LEI in time for any affected transactions from 3 January 2018.
There are some apparent anomalies in the rules. We have obtained ‘clarification’ from the FCA.
The FCA has clarified some aspects of how the recording rules will apply to firms that are not Article 3 Exempt.
How will changes to compliance governance affect your company?
MiFID II – Aggregated costs disclosure
Alistair MacDougall Compliance 2017, 2018, 2019, MiFID, PI
This new requirement is posing some questions about how it can best be implemented. We think that firms should wait until the mechanisms in the market place are a little clearer.