In October last year, the Financial Conduct Authority (FCA) produced policy statement PS16/23, ‘Smarter Consumer Communications: Removing ineffective disclosure requirements in our Handbook’, which outlined a number of changes it would be making surrounding communications.
Although new changes to the capital adequacy rules do not take effect until 30 June, Richard Nuttall strongly recommends firms review their financial position at the earliest time possible in case action is needed.
Going head-to-head with one’s editor – in my case the knowledgeable and dynamic Emma Ann Hughes – is always somewhat high risk. However, on this occasion, it is a risk I have to take.
Although it has been just over two years since the UK financial services market began to discuss robo-advice with any seriousness, the term has fast become part of our shared vernacular.
The FCA is already applying the SMR to major financial institutions, and anticipates extending them to smaller firms, including IFAs, in 2018.
European Union requirements for adviser firms to record all client telephone calls have been branded a 'step too far' by members of the New Model Business Academy.