Compliance tip

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 […]

Compliance tip: Key changes to comply with Mifid II

The Insurance Distribution Directive, General Data Protection Regulation and Mifid II all impact how firms interact with clients, leading to necessary changes to client agreements. Here we consider the main alterations that will need to have been made to comply with Mifid II. It has always been necessary to describe the service to be received […]

CI-diagnosis-medical-check up-protection

Mifid II checklist: Are you ready?

The implementation date for Mifid II (3 January) is rapidly approaching, with seasonal celebrations reducing preparation time further. Now is the time to conduct a self-assessment to establish your firm’s state of readiness. Mifid II affects investment advice and discretionary management firms differently, so your actions will be tailored to your firm type. In addition, advice […]

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 tip: An important reminder about PII

From 23 February, the Insurance Distribution Directive will set new minimum levels of professional indemnity insurance for firms involved in the distribution of insurance products. This affects all firms advising on, arranging or managing non-investment insurance contracts (pure protection contracts and life policies such as long-term insurance contracts and annuities), insurance-based investment products and general […]

1

Compliance tip: Mifid II transaction reporting and legal entity identifiers

Transaction reporting Transaction reporting is the reporting of information about trades in reportable financial instruments, such as shares, ETFs, VCTs, investment trusts and structured products. Reporting covers purchases, sales and modifications of reportable instruments. Mifid II proposes important changes to these obligations which will potentially affect all investment firms. Some exemptions will apply. For instance, […]

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 […]

Compliance tip: How to deal with clients who move abroad

We all have clients we have dealt with for many years; those who trust us and value the advice they receive. But what happens when these clients decide to move abroad and want you to continue advising them on their financial arrangements? This is an area that is not straight forward. There are a number […]