Gareth Johnson: Turbulence ahead for seconded AR discretionary IM staff

As the saying goes, forewarned is forearmed: in this article, I raise a regulatory risk warning to all principal firms and appointed representatives (AR) who have arrangements involving seconded AR discretionary investment management staff. Hopefully, it will also prove useful to members of the discretionary investment management community contemplating striking out independently. We see clear warnings of a significant change in this area, and the Signature regulatory barometer needle is firmly pointing to ‘Stormy Weather.' All affected firms should be adding this issue to their senio...