Category Archives: Suitability & Appropriateness

Rocket Science? Not really!

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Quite simply put, if you are in sales, there is no way you should recommend anything to your client’s unless you can prefix it with “… because you said X and Y and Z, I recommend ABC …”

Fee Proposals – Honest & Transparent

We recognise that value for money is a pre-requisite for all business expenditure. Professional fees are no exception. We have the following values, to which we adhere; Fairness – we don’t judge Sound recommendations (with evidence to support) Long Term plans/strategy Excellence in Primary & Remedial care Serving you as an individual and respecting your […]

Making Compliance Work: New FCA SMCR Directory Consultation

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Following the extension of the Senior Managers Regime 2018 (SMCR), the change from the current FCA Approved Persons Regimes (APER), the number of individuals on the existing Financial Services Register (“FCA Register”) will dramatically reduce, as only specified Senior Manager roles at regulated and authorised firms will be required to be approved by the FCA and therefore appear on the Register. All regulated firms will in future, be in charge of certifying the suitability, skills, fitness and propriety of their own people to the FCA. Read More …. https://wp.me/p7OMfd-1tZ

Insistent Clients: Identifying Them Then Dealing With Them And Remaining Compliant

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What is an Insistent Client and how to deal with them. The FCA Handbook does not refer to insistent clients and there are no rules or guidance specifically about this. The following will hopefully help to show the FCA’s current stance after their recent consultation paper. IMPORTANT! Insistent Clients must not be confused with an […]

MIFID II What Compliance Wealth Managers & Advisers Need To Get In Place

MiFID II finally comes into effect on 3 January 2018 Although there may still be some grey areas, it is time to make sure you have your compliance arrangements in place or being progressed so that there are no nasty surprises. Get a PDF of this post from this link (right click and “download as…”) […]

What the FCA found when it did a Suitability Assessment of the IFA Sector in 2017

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The Independent Financial Advice (IFA) sector was given a clean bill of health by the FCA in May 2017. Or was it? A suitability review of 1,142 separate pieces of advice given by 656 firms against the rules in the Conduct of Business sourcebook showed that in 93.1% of cases, advice provided was suitable. Interestingly […]

Corporate Financial Services Regulatory Compliance Enquiry Form

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Many people often tell us that they are not sure what we do. If you have a UK Financial Services Regulatory Compliance Risk Support enquiry then contact us. If you have a quite already – we will guarantee to beat it by at least 5%.

UK Regulatory Compliance Consultancy Services

Compliance Consultancy Compliance Consultant is one of the UK’s leading FCA compliance consultancies. We help financial services firms achieve FCA & PRA Authorisation, Manage their Regulatory Obligations, Perform Compliance Audits and Past Business Reviews, SYSC Assessments and Empower their staff with bespoke and Direct Compliance Training. Our compliance consultants are subject-matter experts and assist clients […]

The Myths Around Suitability Reports And How To Be A Hero

A common misconception is that the suitability report has to ‘round up’ the whole process, discussions and background information that has occurred to date. It doesn’t. It simply forms part of the process of telling the story and, from a compliance perspective, will be read in conjunction with the rest of the data and information […]

IFAs! Have your work double-marked for suitability

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‘Can help iron out rough edges’ Advisers should have their work checked over to make sure standards remain consistent and high, according to Threesixty Services managing director Phil Young.  Small, independent and directly authorised firms performed slightly less consistently than their larger and restricted counterparts in the regulator’s recent suitability review, but Young argued even […]