Step by step: Tackling the FCA's due diligence 'checklist'

Step by step: Tackling the FCA's due diligence checklist


Taking a tick box approach to the FCA's due diligence pre-visit information questionnaire might not be popular but it will save time in the long run, writes Ian Cockerill

The Financial Conduct Authority (FCA) has indicated that it is to conduct a thematic review into due diligence (including research) undertaken by firms to ensure that customers are sold suitable products and services. This will include (but is not necessarily limited to) the way in which firms filter products/funds/ services and ensure that they understand the features and associated products and services they recommend. This is seen as key to the provision of good advice. The thematic review is a ‘discovery' piece of work. It is designed to learn more about how advisory firms unde...

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