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
Pension Transfers – considering a workplace pension
Alistair MacDougall Compliance Defined Benefit, FCA, Pension, Pension Transfer, PI, Switch, transfer
We recently reviewed a pension transfer report where the client was recommended to transfer out of the defined benefit scheme into the client’s pre-existing SIPP. We considered that the recommendation to transfer appeared to be appropriate. However, the client had what the FCA calls an ‘available qualifying scheme’, more commonly referred to as a […]