This article provides information on the Consumer Duty and offers suggestions for complying with the rules and outcomes. We have put the FCA Consumer Duty guidance into simple to read sections and have included controls and tools for adherence to the Duty requirements. What is The Consumer Duty? The FCA’s Consumer Duty (“the Duty”) came […]
Do you need to review financial promotions for CONC compliance? This article provides guidance and information on who CONC applies to and how to review your promotions to comply with CONC 3. What is the Consumer Credit Sourcebook? The Consumer Credit Sourcebook (CONC) is listed under the ‘specialist sourcebook’ section of the FCA handbook. It […]
The new FCA financial promotions rules introduce a gateway for firms who approve financial promotions. Regulated firms are already obligated to comply with the COBS 4 Handbook rules on financial promotions and client communications. However, PS23/13 introduces new standards and requirements for those seeking to approve financial promotions for communication by unauthorised persons. What are […]
Market Leading AML Policies & Controls Are you looking for templates for anti money laundering (AML)? If so, look no further! Know Your Compliance Limited is one of the UK’s top providers of customisable AML templates and policies. With nearly 10,000 firms already using our regulatory policy documents, you’ll be in good company. AML compliance […]
This article written by Know Your Compliance Limited gives an overview of a fraud risk assessment example and provides guidance on the fraud risk assessment process. If you are looking for customisable fraud prevention policies, jump straight to our Anti Fraud Template Toolkit. What is Fraud? Fraud is any intentional deception that results in financial […]
Compliance Monitoring Tools There are 2 mandatory documents that the FCA requires a firm to submit when they apply for FCA authorisation. One is the Regulatory Business Plan and the other is the Compliance Monitoring Programme. The latter is where a firm documents all their compliance controls, measures and actions. On the regulators application for […]
Consumer Duty Speech Nisha Arora, Director of Cross Cutting Policy and Strategy at the FCA delivered a speech last week at the Deloitte: Consumer Duty – Next Steps event. It’s been 3 months since the Consumer Duty came into force and the FCA are keen to emphasise that this is still one of their key […]
What is Complaint Handling? Successful complaint handling means giving customers a forum to raise concerns and issues in a simple and meaningful way. Mistakes happen! The best way to deal with them is to resolve them and learn from them. Complaints are not about assigning blame or pointing the finger! Free complaint handling process article. […]
Introduction to the Client Asset Sourcebook (CASS) Where certain regulated firms hold or control client money or safe custody assets as part of their business, they are required to comply with the FCA’s Client Assets Sourcebook (CASS) rules. The guidance, rules and requirements set out in CASS have been created to ensure that adequate protections […]
Introduction Vulnerabilities come in many different forms, including those created by permanent and temporary circumstances. Certain customers need additional support or guidance when purchasing financial products and services. Vulnerabilities vary by individual and group, meaning a vulnerable customer checklist is an essential tool for gap analysis and risk assessment. All FCA regulated firms are expected […]