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.
News from Addleshaw Goddard
News from The Lawyer
Briefings from Addleshaw Goddard
The Law Commission is conducting a limited consultation on the first available draft clauses from its proposed Insurance Contracts Bill.
InCredit March 2014 — mortgages: Mortgage Credit Directive text published in OJEU; FCA publishes findings to MCOB survey; and more
The text of the Mortgage Credit Directive (MCD) (2014/17/EU) has been published in the Official Journal of the EU.
Analysis from The Lawyer
Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?
The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.