THE COMPLIANCE DEPARTMENT

The Compliance Department

Phone: 01270-303179

enquiries@compliancedepartment.co.uk

341167034
Client Snippets
June

Compliance Snippet 1000: Consumer Duty and closed products – deadline looms 

TCD Snippet 997: Using AI with clients

TCD Snippet 996: New clarity on due diligence for fund sustainability

TCD Snippet: FCA thematic on retirement income – its here – be prepared

TCD Snippet 994: More on the abolition of the LTA.

 

May

TCD Snippet 994: HMRC’s changes to Non-Dom rules 

TCD Snippet: Structures products and counterparty risk

TCD Snippet 992: Countering the risk have having to pay clients back for no show annual reviews

 

April

TCD Snippet 991: Pensions lifetime and death benefit allowance – bad news for beneficiaries?

TCD Snippet 990: FCA finalised guidance on social media financial promotions

TCD Snippet 989: FCA Business Plan 2024-25 published

TCD Snippet: What happens when a firm refuses to pay a FOS award?

 

March

TCD Snippet 987: Ransomware attacks – increasing evidence of them – what to do

Beware of Phishing Scams Targeting Zoom, Skype and Google Users 

TCD Snippet 986: FCA obsesses about annual reviews

TCD Snippet 985: Quarter 1 Regulatory summary

TCD Snippet 984: The FCA on initiatives to plug the advice gap

 

February

TCD Snippet 983: Attention MLROs / SMF 17s – Latest high risk countries

TCD Snippet 981: The new Sustainability Disclosure Requirements (SDR) 

TCD Snippet 980: FCA establishes working group to helps IFAs with clients with product sustainability claims

TCD Snippet 979: SM&CR thematic review brewing?

TCD Snippet 976: Remember that FCA Dear CEO letter to wealth managers and Stockbrokers

 

January

TCD Snippet 975: Attention MLROs – AML risks of crowdfunding 

TCD Snippet 982: FCA webinar invites to potential new Cap Ad restrictions on high claims

TCD Snippet 974: Is Your Consumer Duty Plan for 2024 Up and Running?

TCD Snippet 973 – Cryptoasset financial promotions – FCA finalised guidance

TCD Snippet 972 – Happy New Year and here’s to a good 2024

June

TCD Snippet 261: Latest of greenwashing

TCD Snippet 960: AML procedures and crypto assets

TCD Snippet 959: Financial Promotion of Cryptoassets.

TCD Snippet 958: FCA gets it wrong banning 2 individuals – unrepentant.

May

TCD Snippet 957: FCA’s case against Woodford progresses but no finality

TCD Snippet 956: Approving non-authorised firms financial promotions

TCD Snipper 954: Attention mortgage brokers – green mortgages

TCD Snippet 952: Compliance officers – pass to your MLRO – updated into corruption guidance

April

TCD Snippet 950: FCA Annual Business plan released

TCD Snippet 945: FOS limits increased

TCD Snippet 946: FOS Complaints data released

March 

TCD Snippet 944: New AML return / levy

TCD Snippet 943: FOS ruling is interesting in informing us how the uphold investment complaints

TCD Snippet 942: Attention MLROs (SMF17s). Useful link to JMLSG

TCD Snippet 941: New Financial Action Task Force (FATF) report on countering AML ransomware activity

TCD Snippet 940: FCA consumer duty workshops – an opportunity to hear what the FCA is looking for

TCD Snippet 939: Important Consumer Duty Update

TCD Snippet: FCA asks pension trustees to report suspicious pension transfers

February

TCD Snippet 938: FCA’s long awaited income in retirement review is official

TCD Snippet 936: Consumer duty – collecting the right MI

TCD Snippet 935: Challenge to FCA legal redress scheme for BS DB transfer firms

TCD Snippet: FCA and Treasury 2 year roadmap on ESG / Sustainable Finance

TCD Snippet 935: The Edinburgh reforms. SM&CR

January

TCD Snippet 934: the Edinburgh reforms and Financial Advice

TCD Snippet 933: Edinburgh reforms: Retail disclosure

TCD Snippet 932: You may have read about the “Edinburgh Reforms”? This is big stuff from Treasury. We will make sense of it over the coming week

TCD Snippet 931: Briefing 01/23: Consumer Duty and TCF – how do they collide?

TCD Snippet 930: Sustainable investing – labelling rules closer but still a long way off

TCD Snippet 928: Vulnerable clients – mental health issues – guidance for support

​June

TCD Snippet 911: Here’s a neat piece of IHT planning …

TCD Snippet 910: FSCS Levy news

TCD Snippet 909: Some help against claims management companies (CMC)

TCD Snippet 908: For all firms with Appointed Representatives, the game is changing.

May

TCD Snippet 907: Mange your conflicts of interests. Here’s a salutary example of failing to.

TCD Snippet 906: Are we in the foothills of standardising risk profiling?

TCD Snippet 905: Attention AML officers – new countries on and off the high risk list

TCD Snippet 904: Custodian due diligence – what steps do you take?

TCD Snippet 903 : ESG – where are the rules heading?

April

TCD Snippet 902: Due diligence on money market funds – not so liquid?

TCD Snippet : FCA identifies focus areas in their Business plan 2022-3

TCD Snippet 896: Here’s a template DFM agreement for professional clients dealing with the DMF direct.

TCD Snippet 895: Investment product / fund switching – the consequences

TCD Snippet 894: FCA’s supervision of investment management firms – consequence on DFM due diligence

March

TCD Snippet 899: Interesting fund manager option for Ukraine assets

TCD Snippet 898: Attention all Anti Money Laundering officers

TCD Snippet 897: FCA warns firms to be ready for potential cyber attacks

TCD Snippet 893: Attention MLROs. Definition of a public official – implications for enhanced due diligence

TCD Snippet 892: There is a new authorised fund regime for high risk assets

TCD Snippet 890: Do you need a KIDS or a KIIDs, that is the question!

TCD Snippet 889: Peer to peer (P2P) loan based due diligence

February

TCD Snippet 886: Updating your firm’s details and those of its advisers.

TCD Snippet 888: Take control of your Appointed Representatives

TCD Snippet 887: FOS data, particularly claim upholds

TCD Snippet : Remember TCF? Its about to change with the FCA’s new Consumer Duty.

January 

TCD Snippet 891: FCA continues to highlight the AML risks with crypto assets

TCD Snippet: REP019-General Insurance – Value Measures Report

TCD Snippet 885: Potential risk warnings for some high risk investments

TCD Snippet 884: If you change your legal status (e.g. LLP to Ltd)

TCD Snippet 881: FSCS levy 2022: Giving with one hand, taking away with the other

June
TCD Snippet 859: FCA is watching Senior Managers 
TCD Snippet 853: When is a complaint not a complaint? 
TCD Snippet 854: FOS and dealing with vulnerable clients 
TCD Snippet 856: FCA on the need for firm to focus on client outcomes 
TCD Snippet 857: How to build a client file structure 

​​​​May
TCD Snippet 849: Get your insistent client process right if your firm allows this practice
TCD Snippet 850: The FCA’s  and FOS stats on the DB pension transfer market 

TCD Snippet 851: Make sure your websites are compliant – they are watched by the FCA 
TCD Snippet 852: Senior Managers – Make sure your Statements of Responsibility are up to date 
TCD Snippet 855: FCA delays 2021 business plan but leaks some of its 2021/22 focus

April 
TCD Snippet 845: Procedure update – vulnerable clients 
TCD Snippet 846: Platform due diligence heads up – Parmenion is sold to PE company
TCD Snippet 848: If your suitability letters don’t tell the whole story, you could be on the hook for advice you have given for longer than expecte

March 
TCD Snippet 840: DB pension transfers – the FCA goes after an IFA in a big way
TCD Snippet 841: Investment pathways – a quick heads up
TCD Snippet 842: Business relief schemes and the meeting of objectives 
TCD Snippet 843: The FCA is all over Vulnerable Clients currently. Here’s their latest video.
TCD Snippet 844: Appointing a DFM – what is the advice risk consequence?

February
TCD Snippet 836: FCA DB pension transfer survey findings and launch of tool
TCD Snippet 838: Reminder to all MLROs – tax evasion is an AML crime!
TCD Snippet 838: CPD – here’s a suggested list for Q1 
DB pension transfers – the FCA goes after an IFA in a big way

January 
TCD Snippet 831: How to incentivise your advisers and staff 
TCD Snippet 832: Key “due by” dates to upload data to the new FCA register for advisers and other significant people
TCD Snippet 834: The FCA to send out another COVID type survey – you must respond! 
Snippet 833: The future …. Cryptocurrencies?​
TCD Snippet 835: Check your permissions on the FCA website and change if needed

December 
TCD Snippet 828: If you advise charities, NGOs and some trusts …
TCD Snippet 830: if you have clients as landlords or tenants, default notices need to change

November 
TCD Snippet : Want to know how the FCA gathers information about you and what they might do with it? Read on .. 
TCD Snippet 825: UK bank accounts, BREXIT and your EU clients 
TCD Snippet : COVID, client meetings, and professionalism.
TCD Snippet 827: Further relaxation on 10% fund drop rule

Attention firms that advise on mortgages

October
TCD Snippet 822: More AML stuff – this time good news on reporting! 
TCD Snippet: FCA announces gradual move away from GABRIEL from mid October 
TCD Snippet 820: AML and crypto currencies 
TCD Snippet 824: Are you on the hook in an execution only case? 
TCD Snippet : COVID, client meetings, and professionalism. 

September
TCD Snippet 814: FCA releases results of equity release review – more work on advice needed
TCD Snippet 816: BREXIT. Remember it? Well it’s just got messier for financial services.

TCD Snippet 818: Why it’s hard for the FCA to deal with toxic unregulated investments.
TCD Snippet 819: The FCA continues to focus on incentives in remuneration policies
TCD Snippet: Important FCA message about office working and COVID

August – Summer Break 

July 
TCD Snippet 806: Don’t allow unauthorised agencies to promote you.
TCD Snippet 807: As you know until April 2021, minimum CPD thresholds are relaxed
TCD Snippet 815: FCA announces relaxation of 12 week rule for appointed rep 

TCD Snippet: The FCA issues guidance on regulatory capital management 
TCD Snippet 811: “Big Brother” (FCA) and another look at Privilege 

June
TCD Snippet 808: FCA on DB transfers – FCA guidance to consumers and why this is important to advisers
TCD Snippet: Corona Virus – we’re very much still your compliance partner
TCD Snippet 805: FCA confirms Phoenixing and Lifeboating a no-no in the aftermath of DB pensions-gate
TCD Snippet 809: the FCA on conduct and culture in a COVID environment
TCD Snippet 800: Very important High Court ruling on execution only cases

May
TCD Snippet 772: Are you getting the best PI cover?
TCD Snippet 788: A lesson from FOS on suitability letter writing
TCD Snippet 790: The value of being self critical
TCD Snippet 794: The low down on the FCA’s Business Plan for 2020-21
TCD Snippet 795: Attention all MLROs. New FAFT guidance amid increased COVID19 AML risks​
TCD Snippet 799: The FCA says keep your clients informed about postal services during COVID

TCD Snippet 803: FCA announces final rules on DB pension transfers

April
TCD Snippet 770: With DB pension transfer issue still bubbling it may be a good idea to know what happens when the FCA act against a firm or individual
TCD Snippet 774: More FCA guidance on treating vulnerable clients fairly – one of its hot topics
TCD Snippet 780: FCA gives guidance on key workers in financial services
TCD Snippet 782: FCA’s approach to market turmoil.
TCD Snippet 784: Please read – Here’s the most important notice you will get on REMOTE WORKING
TCD Snippet 785: The Regulators on TCF and dividend distributions
TCD Snippet 786: Coronavirus and your investment strategy?