On 7 April 2016, the FCA published a report setting out the findings of a thematic review it has carried out into whether, and how, asset managers are meeting investors’ expectations (TR16/3). http://bit.ly/1UMZL9R The FCA announced the thematic review in its Business Plan for 2015/16 – The aim was determine whether UK authorised investment funds […]

On 9 December 2015, the Financial Conduct Authority (FCA) published a thematic review – TR15/12: Wealth management firms and private banks: suitability of investment portfolios. The review is part of a series of earlier reviews carried out in 2010 by the FCA in relation to suitability of discretionary and advisory investment portfolios, managed by wealth […]

FCA Finds 60% of Investment Portfolios Unsuitable or Unclear – The FCA’s thematic review into the suitability of investment portfolios within wealth management and private banking firms is the latest in a long line of regulatory investigations into this area. Earlier thematic work highlighted that many firms struggled to demonstrate the suitability of their portfolios […]

Following its investigation into the fair treatment of consumers who suffered unauthorised transactions (defined as a payment made from a customer’s account without their consent), the FCA has found that firms are generally meeting their obligations to their consumers. The full Thematic Review is available here, and includes a full review of the research and results, along […]

The Financial Conduct Authority (FCA) has published the results of its thematic review of delegated authority arrangements in the general insurance market click here http://bit.ly/1G9Ggwg The review revealed that some firms do not treat their delegated authority arrangements as outsourcing, or have not adequately considered their regulatory obligations in relation to the outsourced functions. The FCA […]

On 05 March 2015, the Financial Conduct Authority (FCA) published a Thematic Review containing the findings of its discovery work, based on finalised guidance (published in 2012) into structured product development and governance. The FCA has continued to review how firms in both the retail and wholesale markets were developing new structured products. The thematic […]

The FCA has published its findings from its thematic review of how asset management firms control the risk of committing market abuse. The review considered how firms control the risks of insider dealing, improper disclosure and market manipulation, with a primary focus on equities and insider dealing. The review examined the key aspects of an […]

The FCA has published a thematic review report on the conflicts of interest arising from wealth management and private banking firms’ use of in-house investment products (TR14/19). The FCA found that most firms recognised the potential risks arising from conflicts of interest. However, the FCA noted shortcomings in the following areas: firms did not articulate […]