With regulatory scrutiny set to rise from 2013 onwards, one consultant tells PA how a good business plan can show the FSA you are in control of your operation
A robust business plan could be the first line of defence an IFA business has when faced with regulatory scrutiny, according to consultant Roderic Rennison. The Ideas Lab director said a business plan can be used to help show the Financial Services Authority (FSA) and its successor, the Financial Conduct Authority (FCA), that a firm is fit and proper by demonstrating that the director is in clear control of the operation. “If you find yourself in a two to three hour FSA interview, the regulator is interested in you showing you are managing your business well. The FSA wants to know you...
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