Due diligence questions the FCA wants answered

The two-part questionnaire sent to advisers and seen by Professional Adviser included nine questions probing the firm's due dilligence processes on the products and services it recommends. The review was initially meant to start last November but got delayed and is now underway. Visits to firms were undertaken in the summer and finished in September. The regulator will scrutinise a range of advisory firms, independent and restricted, from a series of different angles, and will cover outsourcing. It was born out of concerns at the regulator about advisers failing to conduct adequate...