How a business plan can protect you from the regulator

BUSINESS PLANS

Laura Miller
clock

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA urged to 'think again' on targeted support annuity rules

FCA urged to 'think again' on targeted support annuity rules

Regulator’s MoneyHelper signpost criticised as a ‘real limit’

Isabel Baxter
clock 03 September 2025 • 2 min read
FCA continues data reporting cuts

FCA continues data reporting cuts

Regulator removes more data returns

Isabel Baxter
clock 28 August 2025 • 1 min read
Regulatory and employment-related changes – what do firms need to prepare for?

Regulatory and employment-related changes – what do firms need to prepare for?

‘Getting these issues right is not just about avoiding regulatory action or tribunal claims’

Sophie White
clock 21 August 2025 • 4 min read