Platform and process due diligence: What does the FCA want to see?
23 Mar 2016
The FCA finally published its delayed due diligence review last month. But did it tell us anything new? Mark Greenwood takes a look...
If you cast your mind back to March 2015, you may remember that the Financial Conduct Authortiy (FCA) announced it intended to carry out a piece of work into the way in which firms assessed suitability, with a particular focus on the way in which they conducted research and due diligence on products and services.
A considerable number of firms were invited by the regulator to submit information on their processes in preparation for a possible on-site visit. However, these reviews were actually put on hold due to other important regulatory issues around that time taking priority.