'Targeted, intrusive and assertive': The FCA's new pro-active approach

Latest Dear CEO letter from regulator speaks volumes

clock • 4 min read

In his latest article for Professional Adviser, Chris Davies looks at the regulator's new pro-active approach to supervision...

In a pivotal move on 8 November, the Financial Conduct Authority (FCA) issued yet another "Dear CEO" letter this time addressed to wealth managers and stockbrokers, outlining critical Consumer Duty driven directives and expectations. This letter comes at a crucial juncture, signalling a new, proactive ‘targeted, intrusive and assertive' FCA stance to supervision and oversight. Given the Consumer Duty is now demanding firms take a holistic and data-driven approach to evidencing constructive conduct, competence and culture, we are already witnessing financial advice firms receiving unsolic...

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