Wealth management firms are facing more serious consequences from a failure to meet suitability requirements as the regulator puts practices under fresh scrutiny.
It follows a week in which the Financial Conduct Authority (FCA) revealed it is turning a new spotlight on wealth managers' practices. The watchdog's 2015/16 business plan, published last Tuesday, reported an ongoing investigation into “improvements in suitability standards across wealth management”. The regulator was tight-lipped on details of the probe, which began at the start of 2015 and is scheduled to conclude in the fourth quarter, but has confirmed it constitutes a thematic review of standards. Professional Adviser sister title Investment Week understands the latest review ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
