Identify, Assess & Manage

Before you read on, what do you think the title refers to?

The answer is Business Risks.

The FCA has been highlighting this issue in workshops. They expect firms to ‘Identify, Assess & Manage’ risks and to be able to provide documentary proof that they are so doing.

They expect firms to have at least a Business Risk Management plan and ideally a Risk Register where known risks are recorded, along with proof that senior management have assessed the risks and planned mitigation strategies.

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

If you don’t do the above, then you are, funnily enough, at risk !!!

Action Required By You

Note these comments and act accordingly. All ATEB clients will have risk management plans and strategies in place which should be discussed with your consultant.

About the Author

Steve is an ATEB Director and has a deep understanding of all matter regulatory, built up over his 30 years + in the industry. With a training background and a technical brain, he overseas numerous complex projects and client implementation work.

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