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.
Model behaviour
Alistair MacDougall Compliance Drawdown, EBI, FCA, ML, PI, Switch
The advent of Consumer Duty has catalysed a lot of focus on fair value, or at least a lot of chat. Anecdotal evidence would appear to suggest that many firms may not have made any material changes to their charging structures. However, a recent survey by Schroders gave rise to a headline in the financial […]