We have today been alerted to a Due Diligence email being issued as per the content below. This is unlikely to be from the FCA and we are awaiting further confirmation, but meantime would recommend that you do not click on the links unless and until the FCA confirms its authenticity.
The email reads:
“YOUR DUE DILIGENCE REQUEST IS NOW DUE
DUE DATE: 03 NOVEMBER 2020
FOR: removed
REFRENCE NUMBER: removed
Hello,
In regards to the recent FCA directives with effect from 03 November 2020, you are required to complete the below compliance questionnaires.
What you need to do:
We require your reviews and answers the relevant questions and return no later than the 15 of November 2020.
Please reply to this email if you have any questions.
View Questionnaire Here (link has been removed)”
FCS Transitional Arrangements
Steve Bailey Compliance Update
As you will be aware the Financial Services Authority ceased to be and the Financial Conduct Authority took over the regulation of financial advice firms on 01 April 2013.
The FSA issued PS13/05 last week which includes updated rules and transition arrangements. The policy statement itself is 88 pages but the ‘appendix (3)’ that accompanies it is a mere 1990 pages so you must excuse us for not as yet absorbing every word. The document can be seen here.