Regulation

It is evidently prudent to keep some ‘rainy day’ money in reserve and whilst the FCA is not prescriptive about the amount of contingent element that has to be identified, it details that "adequate risk management systems" are required by PRIN 3 (which is mandatory) and a firm must "monitor and report the risks it is or might be exposed to" as required by SYSC 4.1.1.R (which is also mandatory).

I thought the title might encourage you to read on! By the time you have read this, the last option may seem to be the most appealing…

In a recent meeting with the FCA, it was indicated that there is a serious concern within the client money team over the quality of documentation held by insurance broking firms.

Many, if not all of you, will have received an email from the FCA advising that you have been given new permissions to advise on Peer to Peer (P2P) investments.

The FCA’s shake-up of the general insurance add-on market came into force on 1st April 2016.

Following some recent meetings with the FCA, there are a couple of pieces of information to share.

Who has heard of the PSC? I hadn’t until yet another email popped up on my screen.

At a recent meeting with the FCA’s General Insurance Sector Supervision team, the subject of advised versus non advised sales came up.

Wales based financial services consultancy, RWA, has teamed up with the Cardiff & Vale Credit Union to deliver bespoke specialist training in areas such as FCA Regulations, Dealing with Vulnerable Customers and Treating Customers Fairly (TCF).

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