Firms are reminded of the requirement to notify the FCA in either of the following situations.
- in any 12 month period, three complaints are upheld* against any individual adviser
… notification must be made within 20 business days starting on the day
on which the third complaint was upheld; - if a complaint is upheld* against any individual adviser, where the redress paid exceeds £50,000
… notification must be made within 20 business days starting on the day
on which the complaint was upheld.
The relevant rule is SUP 15.12.
Advising non-UK clients
Alistair MacDougall Compliance Conduct, EEA, email, EU, FCA, MiFID, passport, PI, vulnerable
Despite the fact that the UK ceased to be a member of the EU/EEA almost a year ago, we are still asked for advice around how a UK firm can take on a new non-UK client or continue to deal with such clients that the firm had pre-BREXIT. We have written before about the general […]