Chris Davies: How ready are you for a visit from the FCA?

Three reasons regulator may drop by

clock • 3 min read

Firms should ensure they have a robust research and due-diligence process in place, writes Chris Davies, so that, should they have to experience an FCA visit, they can do so with confidence

We have written extensively about the new FCA accountability regime and, with the recent FCA Dear CEO letter to the SIPP market in October last year, it has now emerged - thanks to a Professional Adviser freedom of information request - that 11 SIPP firms have been paid a visit. There is a tendency or human behavioural bias to think ‘this won't happen to me' - in fact, it is called ‘the Ostrich effect' and it causes people to seek to avoid certain situations that are perceived as painful. Chris Davies: The unintended consequences of the SM&CR With the Senior Managers and Certificat...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Dennis Hall's open letter to the FCA: Time to retire RU64

Dennis Hall's open letter to the FCA: Time to retire RU64

'The rule is particularly misaligned with client expectations'

Dennis Hall
clock 01 May 2025 • 2 min read
Complaints against financial services firms fall below 1.8 million

Complaints against financial services firms fall below 1.8 million

All major product groups saw fewer complaints

Sahar Nazir
clock 30 April 2025 • 2 min read
FCA backs artificial intelligence with live testing service

FCA backs artificial intelligence with live testing service

Wants AI to keep the UK competitive

clock 29 April 2025 • 2 min read