Its pretty obvious really, but the requirement to demonstrate that you know your customer is a fundamental rule requirement. You may not be surprised to know that FCA thematic reviews continue to find that standards in this respect are not what they should be.
While this information should be gathered at the fact finding stage of the sales process, ATEB suitability provides the facility to summarise the KYC information and to integrate with back office systems so that the data can be pulled through automatically.
Papers galore!
Huw Reynolds Compliance 2021, Certification, Conduct, COVID-19, FCA, Gabriel, Pension, platform, protection, Senior Manager, SM&CR, Switch, transfer
It has been a busy month for papers and publications at the FCA. These include: New Consumer Duty CP The FCA is consulting on plans to introduce a new Consumer Duty, which aims to set a higher level of consumer protection in retail financial markets. The Duty will have 3 key elements: A new Principle – the […]