Menu
Suitability – still the FCA’s hot topic

Hot topic: Suitability in wealth management

“Any successful wealth management service is entirely dependent on providing clients with suitable investment portfolios.

Helping firms to improve their standards on suitability is one of our priorities in supervising the sector.

… many firms still need to up their game – suitability remains one of our main concerns in the sector. “

So said the FCA in a recent regulatory roundup. The regulator has completed three separate phases of work on this aspect over the past six years, culminating in a Thematic Review in December 2015 – see our view here.

Suitability was also the theme of the investment roadshows that the FCA has been conducting around the country. See our summary here.

Don’t forget to check Our View about this article and the Actions Required By You

Suitability – still the FCA’s hot topic

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

Suitabiliity. It’s the FCA’s hot topic. Make it yours. The quality of every firm’s KYC and advice should continue to be a top priority.

Action Required By You

  • Read the Thematic Review if you have not done so already;
  • Consider your KYC and advice processes. Do they support suitability?

ATEB clients should speak with their account manager as necessary; otherwise contact ATEB here to find out how we can help.

 

SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

Dark_wall_just_ateb_signage

An ATEB reminder for all staff involved in insurance distribution activities

Compliance , , , ,

We thought it appropriate to issue a New Year reminder for firms that have staff …     directly involved in the carrying on of the firm’s insurance distribution activities; or within the management structure responsible for the firm’s insurance distribution activities; or responsible for the supervision of a relevant employee acting in the capacity […]

Read More
Bokeh photography of lights

Regulatory priorities for 2023

Compliance , , ,

As 2022 comes to an end, all our readers are probably thinking more about the imminent festivities and looking forward to a well earned break from what has undoubtedly been a difficult year in several obvious respects.   We at ATEB are also looking forward to a few days off. However, without wishing to spoil […]

Read More
https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

FCA – moving to ‘External Multi Factor Authentication’

Compliance , ,

The FCA recently advised of incoming changes to how firms access FCA systems.     In order to protect firms’ data, the FCA are to implement multi factor authentication (MFA). This will replace the current method used by firms to log into the FCA systems. Multi-factor authentication ensures only you access your accounts. Currently firms […]

Read More
Copyright © 2023 FCA

10% Portfolio Drop Rule – dropped!

Compliance , , , , , ,

As part of the Government’s reforms of previous EU legislation, next on the list is the proposal to scrap the 10% portfolio drop rule, which was introduced within MiFID II rules in January 2018.   Under the legislation firms were required to notify clients where the overall value of their portfolio had fallen by 10% […]

Read More
Copyright © 2023 FCA

GI – value measures

Compliance , , ,

We have received the following from the FCA.     We want to draw attention to a new FCA publication; https://www.fca.org.uk/data/general-insurance-value-measures-jul-dec-2021 As you will be aware, in our General Insurance (GI) add-ons market study (MS14/1) we identified poor product value as an area of harm in general insurance. This has been caused by ineffective competition between providers […]

Read More
Load More