FCA to scrutinise wealth managers' business models

Its risk assessment work will no longer focus on firms' controls but instead look at their business models, strategies, culture and front-line processes. The FCA has set out its expectations of wealth management firms as it puts the finishing touches to a new division that will oversee the sector. FCA director of supervision Clive Adamson [pictured] said the regulator will conduct further thematic reviews targeting wealth managers - it previously carried out reviews in 2010 and 2012 - but outlined the key areas firms should focus on to ensure they do not come to the attention of the F...