Avoid it! Don’t assume that your clients will understand technical terms and acronyms. Yes, there has to be a degree of technical information, but wherever possible, explain this in simple terms.
We like the ‘granny test’ (with the greatest respect to all grannies all over the world) i.e. if your granny (or wife, husband, partner, aunty, uncle or best mate) can understand it, then you’re on the right track.
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.
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FCA sets its expectations about how rules will operate in the new environment
2 places left on ATEB’s next supervisory training workshop on the 15th October 2015.
Reminder about important changes to CASS rules for Investment Firms
FCA concerns and best practice tips
FCA bans Add-On Product Opt-Out selling
Steve Bailey Compliance 2016, FCA
FCA bans the selling of add-on products on an opt-out basis across the financial services market