Phil Deeks

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Compliance tip: What to consider before selling your firm

Selling an advice firm is a big decision and can often be a complex and drawn-out process. But reviewing the following areas prior to any acquisition discussions can help smooth the ride and lead to greater success. Culture: Not only is having an appropriately client-centric culture a regulatory requirement, it will also be of interest […]

What makes an outstanding advice firm?

Another year, another sterling display of excellence at the Money Marketing Awards. Having been invited to take part in the judging process for the prestigious Financial Adviser of the Year award, I’ve spent a number of hours pondering the question, what are the traits of an outstanding advisory firm? Here are four areas the more […]

Compliance tip: Responding to the FCA’s Business Plan 

The FCA’s Business Plan and accompanying sector views provide the industry with valuable insight into the regulator’s concerns and areas of focus for the year ahead. But how can firms ensure they respond appropriately? Do not view your sector in isolation: Firms can no longer afford to look at their sector in isolation. As well as […]

Compliance tip: How to drive cultural change

The FCA’s recent discussion paper, DP18/2: Transforming Culture in Financial Services, focused heavily on how to drive cultural change within an organisation. A number of the paper’s contributors highlight that focusing solely on senior management behaviour and the ‘tone from the top’ overlooks the complexity of organisational culture and the role all employees have in […]

Compliance tip: Meeting FCA expectations around culture

The FCA’s focus on firms’ culture and conduct is set to intensify as it begins its preparations to roll out the Senior Managers and Certification Regime. The consultation papers released in December provide a good indication of the regulator’s direction of travel, with culture, particularly the tone from the top, being a key consideration. Below […]

Compliance tip: How to deal with regulatory change

Regulatory change can leave firms struggling to keep pace and maintain effective compliance. To ensure a successful and sustainable response to regulatory change, firms should consider the following areas. Culture Culture is the foundation of any business and if a firm’s culture is not sufficiently client-focused it will be unable to consistently deliver the right […]

Phil Deeks

Compliance tip: The right training to support vulnerable customers

The FCA’s focus on vulnerable customers shows no sign of abating, with its recently published Future Approach to Customers once again highlighting its expectations firms treat them fairly by providing a flexible and tailored response. But just as there is no ‘”one size fits all” definition of vulnerability, there is also no single way to […]

Compliance

Compliance tip: Managing emerging conduct risks

The advice sector is on the cusp of a major regulatory shift, set to change customer behaviour and market conditions. Firms need to focus on three core areas to ensure they remain competitive and effectively meet regulatory obligations, particularly as new conduct risks emerge.   Culture Culture plays a key role in effectively adapting to future […]

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Regulation: Do Mifid II and the GDPR have conflicting aims?

Two significant pieces of legislation are set to impact the investment management industry in the coming year; Mifid II and the General Data Protection Regulation (GDPR). On the surface they appear to have conflicting aims, with the enhanced monitoring requirements under Mifid II seemingly incompatible with the enhanced data protection requirements of GDPR. Firms must […]