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Dear CEO Letter: Wealth Management & Stockbroking Firms

Dear CEO Letter: Wealth Management & Stockbroking Firms

29th July 2019

Last week the FCA published a Dear CEO Letter that was issued to Wealth Management and Stockbroking firms on 13th June 2019.

Written from the FCA’s Director for life insurance and financial advice, Debbie Gupta, the Dear CEO Letter sets out the regulator’s view of the key risks of harm that Wealth Management and Stockbroking firms pose to their customers or the markets in which they operate.

The FCA has urged Firms to consider if their firm presents these risks and to consider suitable strategies to mitigate them.

Wealth Management & Stockbroking Firms: Main Risks to Customers

According to the FCA’s Letter, there are four key ways in which Firms in this sector poses a risk to their customers, these being:

Main Areas of the FCA’s Supervision Strategy:

The main areas of the FCA’s supervision strategy are:

Support for Firms

Should your firm require any support in assessing risks or determining strategies for mitigation of those risks, we can provide practical support and assistance. Our team of regulatory and compliance professionals would be happy to discuss any requirements you might have, such as planning for SM&CR or reviewing your best execution processes and monitoring arrangements.

Just drop our friendly team an email for a no obligation discussion.

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