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)”
Suitability reports – silver bullet, or not?
Paul Jay Compliance, Suitability DB Pension, FCA, MiFID, Pension, Pension Transfer, PI, transfer, Xplan
If you ask most advice firms which part of the advice process consumes the most time, most will reply: “Suitability Reports”. Based on the mammoth documents that some firms still produce, we can understand why. We do have some sympathy with firms though. On the one hand they’re told by the FCA that reports are […]