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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The FCA have been running CCL roadshows and there are some important issues arising that may affect you if you currently hold a licence or will potentially need one.
If your PI policy has non-compliant excess or exclusions written into it, you will need to hold additional capital reserves.
We have summarised the key points from recent FCA MMR Intermediary Workshops in this news article. There are some interesting points for mortgage advisory firms to note.
This is an area that causes the FCA concern.
How do you ascertain that your Attitude to Risk grading is ‘mapped across’ (i.e. is equivalent to) any risk rated fund that you subsequently recommend?
Financial Promotions – FCA Issues Warnings
Steve Bailey Compliance FCA, PI, Xplan
The FCA is stepping up its scrutiny on financial promotions by actively monitoring promotions and issuing warnings to firms that breach the rules.