Richard Nuttall, Head of Compliance Policy, explores some of the major issues adviser firms need to consider when working with a DFM. In particular, the piece looks at different ways in which the two can engage, regulatory exceptions which apply in different scenarios, and what they may mean for advisers and their clients.
SimplyBiz Group Head of Business Consultancy, Karl Dines, writes here about how to check, and ensure your tech is supporting your CIP and CRP in a way which will make your business more efficient and keep your clients and the regulator happy. Karl explores how, once properly implemented, a CIP can do a lot of the ‘heavy lifting’ for a firm and help advisers get to where they need to be, and takes a look at what the regulator will be looking for from CIPs and CRPs.
In this article, our Director of Compliance Services, Mark Greenwood steps on to the metaphorical regulatory treadmill to explain how firms can get ship-shape ahead of the SM&CR 'fit and proper' deadline which is just two months away. Mark looks at the way in which firms will need to gather evidence to demonstrate their senior managers and certified persons are fit and proper for their role; and that they meet requirements of honesty, integrity and reputation, financial soundness and competence and capability. He also focusses on the Directory – a new public register that goes live after 9 December, and it will contain details about specific individuals working in financial services.
The SimplyBiz Group has been placed second in the recently announced Kirklees Top 100 Business Listings. This prestigious ranking is a joint venture between University of Huddersfield, Kirklees Council, The Huddersfield Examiner, and the 3M Buckley Innovation Centre (3M BIC). The inaugural Kirklees Top 100 Business Listings launch took place on the 8 October at a virtual event, sponsored by CityFibre, with the top businesses and partner representatives in attendance. The Kirklees Top 100 was been developed to help strengthen bonds within the Kirklees business community and put the district on the map as an attractive destination for inward investment, business start-up, scale-up and growth.
In this podcast, SimplyBiz Group Director of Compliance Services, Mark Greenwood, joins Royal London’s senior investment development and technical manager, Ryan Medlock, to discuss how suitability processes need to change in order to apply to the growing ESG sector. Mark observed that current guidance means advisers should no longer just be asking a single question during the fact find process to establish whether their clients are interested in ESG investing, but need to instead concentrate more on the process which follows the client’s response. The expert pair also cover the benefits of having a centralised investment propositions in place, and what we might see from the regulator in this area.
"The first important step is to eliminate the confusion between advice and guidance." In Ken Davy's latest article, he discusses the FCA's Call For Input, and how further clarity can be added for consumers. Ken also reaffirms his commitment to supporting change in the ‘grotesque and unfair’ way in which the FSCS is currently funded, and assures readers that he will be doing his utmost in the coming weeks and months to bring about this change.
A live broadcast featuring an array of industry leaders discussing the big issues shaping our industry - broadcast straight to your laptop, phone or any other device, meaning you don’t have to go anywhere to get all the latest news, views and insight.
Next show: MI Live - on air 16 November 2020
SimplyBiz Group partners with Wealthify to offer access to a low fee digital investment solution for members
The SimplyBiz Group and Wealthify have announced a new partnership, with SimplyBiz members now able to access Wealthify’s online investment service to help meet client demand for digital solutions.
We already knew that our Director of Compliance Services, Mark Greenwood, was fluent in regulation-ese, but today he's also giving a lesson on the language of vulnerability in the advice process.
Elaine Parkes of Signature Support - part of The SimplyBiz Group - explores capital requirements, ICAAP and the realities of being a DFM in a post-Brexit world.