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.
ATEB Compliance offers compliance and regulatory advice.
ATEB Suitability provides report writing software for the financial services market.
We have completed the latest upgrade to ATEB Suitability on 10th November 2022. This update comes at no additional cost and provides various template related enhancements as well as a brand new template designed to assist firms in producing fast and compliant ‘ad-hoc business’ reports/letters outside of annual review. Full details of the enhancements can […]
Having recently seen examples of firms registering trading names in the wrong circumstances and/or using them in a way which may mislead consumers, the FCA has updated the information on its website. The relevant page can be accessed here. The FCA will also be increasing focus on this area and is encouraging firms using […]
Déjà vu? Did you watch the FCA Consumer Duty (CD) webinars? Somewhat belated perhaps and certainly no Oscar nominations arising, but nevertheless, useful in so much as they confirmed a few things and raised a few questions. Do you get the sense that we’ve been here before though? You will fondly recall the Retail Distribution […]
As previously advised, the FCA has now replaced Gabriel with RegData as the new data collection platform for gathering regulatory data from firms. All 52,000 firms that provided regulatory submissions in Gabriel now need to use RegData. As part of its improved Data Quality controls, firms may receive a request from the FCA for […]
GI – value measures
Alistair MacDougall Compliance 2021, FCA, PI, protection
We have received the following from the FCA. We want to draw attention to a new FCA publication; https://www.fca.org.uk/data/general-insurance-value-measures-jul-dec-2021 As you will be aware, in our General Insurance (GI) add-ons market study (MS14/1) we identified poor product value as an area of harm in general insurance. This has been caused by ineffective competition between providers […]