The Parrot Prize

Let’s be honest about it, there aren’t too many regulatory documents that are going to be nominated for a Booker Prize.

There is however some FCA reading that qualifies for the financial services industry equivalent, the Parrot Prize. Ok, so we may not expect you to be able to recite them parrot fashion, but you should nevertheless fully understand them, because they explain the core regulatory framework for IFA businesses.

Here are the documents in question:

  • Finalised Guidance 12_16 Replacement Business and Centralised Investment Proposition here.
  • Establishing the risk a customer is willing and able to take and making a suitable investment selection here.
  • Independent and restricted advice here .
  • RDR Fact Sheet 007 disclosing your firm’s charges and services here .

RDR Thematic Reviews

  • How firms are implementing RDR here.
  • Delivering independent advice here.
  • Being clear about adviser charges and services here.

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

Pretty essential reading and reference. There will be guidance that you may not understand or is open to interpretation, so please speak to us.

Action Required By You

Happy reading!

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About the Author

Steve is an ATEB Director and has a deep understanding of all matter regulatory, built up over his 30 years + in the industry. With a training background and a technical brain, he overseas numerous complex projects and client implementation work.

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