We wrote a few weeks ago about incoming changes to how firms access their FCA systems to upgrade data protection. You can read that article here.
The new system will replace the current 6-digit passcode with the user needing to log in using a One Time Passcode (OTP).
The implementation date of 20th January has now been delayed until Thursday 2nd February.
We will provide further updates as and when these are available.
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The FCA is consulting on proposed guidance to firms in dealing with vulnerable clients.
While this paper is mostly of relevance to Pension Providers, there are some implications for advisers.
See here for dates and registration details.
The FCA has stated clearly that monitoring firms’ implementation of the Conduct Rules will be a key focus in future reviews of of SM&CR.
FCA video guide to pension transfer advice for consumers
Alistair MacDougall Compliance FCA, Pension, Pension Transfer
Although aimed at consumers, firms involved in transfer advice would do well to view the video.