Since we are coming to the end of the transition year following the change to capital adequacy requirements we thought it appropriate to remind firms that the final rule comes into effect on 30 June 2017.
See our previous news article here /news/capital-adequacy-requirements/ for confirmation of what it will mean for your firm.
Put briefly – if your annual income is less than £400,000 your prudential requirement will be a minimum of £20,000 from 30 June 2017.
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.
Firms need to have a clear understanding of what their new prudential requirements will be
ATEB clients should speak with their account manager as necessary; otherwise contact ATEB here to find out how we can help.
The FCA has published proposals for a simplified advice regime, but don’t get too excited – just yet. At the end of November 2022 the FCA issued another Consultation Paper – CP22/24 – the consultation period ends on 28 February 2023. Its title – ‘Broadening access to financial advice for mainstream investments‘ – doesn’t […]
This article will be of relevance to firms who have provided pension transfer advice to members of the British Steel Pension Scheme. Note that imminent action is required. Background On 27 April 2022, PS22/4 came into force, applying an asset retention on firms that provided BSPS members with advice to transfer between 26 May […]
This article will be of relevance to firms who have provided pension transfer advice to members of the British Steel Pension Scheme. Note that imminent action is required. PS22/14 is due to come into force at the end of this month and requires firms to review pension transfer advice they have provided to members […]
What do you do? Your client has inherited some (insert company name) shares and she asks you, as her trusted financial planner, what to do with them. Do you tell her that you don’t advise on individual shares and recommend that she goes to a stockbroker? But wait, that loses you credibility and might […]
Consumer Duty – FCA Live and Local events
Richard Foster Compliance EBI, FCA, Mortgage, Register
The FCA have advised they will be hosting a series of Live and Local events across the United Kingdom on the Consumer Duty from 21 February 2023 to 15 June 2023. Aimed at small and medium sized firms, the events will focus on the Retail Investment and Mortgage sectors and compliance consultants are also […]