InVest — February 2014: spotlight article
On 16 January 2014, the Financial Conduct Authority (FCA) published its finalised guidance on supervising retail investment advice. The guidance follows the September 2013 consultation (GC13/5) and centres on conflicts of interest (Principle 8), the Conduct of Business (COBS) inducement rules and Senior Management Arrangements, Systems and Controls (SYSC).
It follows an FCA review that found payments were still being made that could result in advisory firms favouring one product provider over another. This was deemed to undermine the aims of the Retail Distribution Review (RDR), the spirit of which firms must comply with, as made clear by the FCA.
The guidance is relevant to all providers of retail investment products sold by advisers and any advisory firm providing personal recommendations relating to retail investment products. This includes situations where product providers make payments to an unregulated third-party business for the benefit of an advisory firm…
Click on the link below to read the rest of the Addleshaw Goddard briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
Freshfields Bruckhaus Deringer has made waves in Manchester by offering the city’s paralegals turbocharged salaries to switch allegiances.
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all