What's on my mind

How confident would you be of the outcome if the FCA paid you a visit?

15th July 2016

The need for intermediaries to be confident that their processes are robust and deliver consistent outcomes has never been greater. The FCA’s steady stream of Papers (for the most part very readable despite comments from some to the contrary) is worth studying, in particular a number published since 2014:

Firms need to ensure that their risk and compliance functions support their business activities by proactively bringing regulatory matters to the board’s attention for early review and decision and then implementing required changes efficiently and effectively with an accompanying clear audit trail. Particular attention will continue to be paid by the FCA in relation to the due diligence that advisers and firms carry out in relation to the selection of products and services to deliver compliant investment advice.

If you are concerned about your firm’s effectiveness in relation to its compliance and risk activities, assistance should be sought as the FCA has made it clear that firms will be held accountable and the number of S.166 Independent Persons Reviews which can have a debilitating effect on a firm and its activities are increasingly used by the FCA to investigate possible shortcomings.

Writing & Speaking

To read the various articles and papers I've written in the recent past, please click here