TECHNICAL TALK
ACCESS OUR EXPERT COMPLIANCE SERVICES TO EASE REGULATORY PRESSURE
As we move through the final months of 2021 , we can expect to see the FCA focus its attention on several key regulatory areas , aligning to the continuing challenges advisers face due to the ongoing pandemic . With many advisers taking the first step into hybrid working and ongoing digital engagement , suitable client outcomes ( initial and ongoing ) have been brought to the forefront , meaning compliant advice and client review processes are imperative .
This has been further compounded by the fact that many clients ’ attitudes and circumstances may have shifted drastically , linking to another key regularity concern , assessing vulnerability in clients . It ’ s imperative you have adequate processes and policies in place to help identify and treat such individuals appropriately . And , although we moved past the final SM & CR deadline in March , we expect to see the regulator start to investigate how firms are embedding the regime into their firm ; from how you complete your fit and proper checks , to keeping sufficient training and competency records , and how you manage the ongoing annual responsibilities . We know that regulatory pressure continues to be a key challenge for advisers , as it was cited as the number one challenge in our most recent Member and Client survey . With this in mind , we continue to bolster our regulatory support to ensure that you have the all the additional support needed , providing you with added peace of mind and your clients with the best outcomes . As well as our core services , which include our experienced help desks and our comprehensive Operating Centre 9which features an array of compliance documents and guidance that is continually updated and expanded ), earlier this year , we launched our highly popular Compliance Clinics , as well as additional audits and workshops , which give you the option of being held virtually or in person .
Certification Regime and Directory Updates The work needed to keep on top of your ongoing SM & CR processes can take up a lot of resource , which is why we are committed to helping all our Members and Clients meet their ongoing SM & CR obligations and have a variety of additional support now available :
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