Costs relating to Vision Independent Financial Planning’s s166 from the Financial Conduct Authority could reach £2.5m, parent company Rathbones has said.
Rathbones' latest results set out that it had "provided" for the costs associated with the regulatory review, which emerged in August this year. At the time, Vision IFP confirmed to PA that it had received a Draft Requirement Notice from the FCA. Rathbones said at the time: "The skilled person review at Vision is unconnected to the programme of work underway at Rathbones. Vision is subject to separate regulatory oversight." Rathbones' results released today (22 October) said: "Our wholly owned subsidiary Vision IFP has received a requirement notice from the FCA under section 166. ...
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