Following concerns raised about firms’ disclosure of charges and services post RDR, the FCA has published an assessment template to assist firms to review their documentation.
The FCA plan to use this template to assess firms’ disclosure when carrying out the next cycle of their review, which starts in mid-July.
They expect to see significant improvements in this area and if they continue to identify firms that are failing to meet the disclosure requirements, they will consider what further regulatory actions are appropriate.
The use of this template is not compulsory, but all firms are encouraged to use it to assess standards and to make any necessary changes to their client facing documentation. A copy of the assessment template should be retained.
The Disclosure Assessment template, together with accompanying notes and explanatory video, can be accessed here.
Further useful supporting documentation can be found below:
FCA expectations in relation to remote or hybrid working
Alistair MacDougall Compliance Call Recording, COVID-19, FCA, PI, protected, protection, recording, Register, Senior Manager, training
The coronavirus (Covid-19) pandemic has resulted in many firms adopting remote working for some or all employees. Indeed, some of you reading this article right now might well be in a kitchen or home office, in permanent dress down mode (remember when that only happened on the last Friday of the month?) and perhaps even […]