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 Firms were also pulled up on holding out-of-date client information.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
This session will run from 9:30am—5:00pm at Landmark, 99 Bishopsgate, London, EC2M 3XD
Lunch will be provided