TISA - Tax Incentivised Savings Association - Training Event

Ensuring MiFID II Suitability & Appropriateness

Tisa -

Ensuring MiFID II Suitability & Appropriateness

Clients rely on your good judgement and the regulator is watching. Make sure you have the documentation that proves the suitability of your advice.

Course Overview
Consumer protection is one of the regulator’s top priorities. An increased focus on the suitability of investment advice is part of that.

The FCA’s recent suitability review flagged a number of issues. Among the most common are hidden fees, and investment portfolios that do not reflect the risk appetite, experience or financial situation of the customer. Firms were also pulled up on holding out-of-date client information.

Your firm needs to show it has stringent tests and controls in place to build a customer’s risk profile. You’ll also need to assess a client’s capacity for loss before you can determine the level of risk they are willing and able to take.

The regulator doesn’t dictate how firms should determine that risk (or how to evidence the steps taken to do so). But they will take tough action on poor practice, imposing harsh financial penalties.

Join us for this informative one-day course. You’ll learn about the documentation and processes you need to safeguard your clients (and demonstrate your high standards to the regulator).
•Understand the FCA’s focus on this area as part of its Treating Customers Fairly strategy
•Ensure your company is evidencing suitability correctly
•Understand what level of Know Your Customer is required before making a recommendation
•Confirm your approach to risk profiling meets the regulator’s expectations
•Learn what adviser and investment managers need to do to demonstrate suitability

Course Agenda
The regulator’s approach to assessing suitability
•Understanding the implications for your business

Know Your Customer (KYC): how much information is needed?

•Collecting client information
•The retention and review of client data
•How to hold KYC information
•What to do with a reluctant client

Risk profiling – what the regulator wants
•Best practice and common pitfalls
•Tips for establishing a client’s risk profile
•Has the client understood the risk category you’ve agreed upon?

Client files and reports
•What, when and how to record
•Evidencing suitability to your client (and the regulator)
•Suitability reports: a template for best practice

Suitability in the context of Treating Customers Fairly (TCF)
•Suitability reports and TCF
•File quality

Review and close
•A review of the learning objectives

This session will be delivered by Lorraine Mousley.
Lorraine brings over 30 years of experience in the retail banking and financial advice sector, having worked predominantly in the Banking, Bancassurance and Independent Financial advice sector. Lorraine has extensive experience in all aspects of retail financial services, and a highly successful track record as a Financial Adviser, Area Manager and Training Design and Delivery Consultant. This gives her strong customer focus, employee engagement and business awareness of retail clients and the issues they face.
As a Chartered Financial Planner, Lorraine was also one of the first two people in the country to have fully completed the CII Regulated Diploma. Lorraine has extensive training experience at Regulated Diploma level, across all subjects, and is an Accredited CII Trainer.

This session will run from 9.30am - 5.00pm (lunch will be provided).


Members: £349
Non-members: £699
(VAT exempt)

This session qualifies for 6 CPD hours and is endorsed by the CISI for CPD requirements. CISI members pay a discounted rate and can book via the link below. To receive your discount as a CISI member, please enter the discount code provided by the CISI.