Business requirements for wealth and investment firms

Business requirements for wealth and investment firms guidance:

Background to, and application of, CASS 9 Prior to 1 December 2014, most of the client information and reporting requirements in relation to client assets held by...

Practice Note

Background to the Client Assets Resolution Pack The collapse of firms such as Lehman Brothers International (Europe) (LBIE) in 2008 and MF Global UK Ltd in 2011 led to...

Practice Note

Application and purpose of the client money distribution and transfer rules The client money distribution rules were significantly amended on 1 January 2013 in order to...

Practice Note

Background to investment research rules This Practice Note explains the Financial Conduct Authority's (FCA) rules on investment research, which are...

Practice Note

MiFID II: changes to client order handling requirements The Markets in Financial Instruments Directive (Directive 2004/39/EC) (MiFID) has been replaced by the recast...

Practice Note

Background to appropriateness requirements The Financial Conduct Authority’s (FCA) rules on 'appropriateness' and the appropriateness test (which are...

Practice Note

Background to best execution requirements This Practice Note explains the Financial Conduct Authority's (FCA) rules for the execution of client orders, known as the best...

Practice Note

What does the FCA’s client assets regime cover? The client assets regime contains some of the most significant regulatory requirements found in the Financial Conduct...

Practice Note

COBS definition of 'client' and changes introduced by the MiFID II framework The Financial Conduct Authority’s (FCA's) definition of a client is set out in chapter 3 of...

Practice Note

What do the FCA custody rules cover? The custody rules contained in chapter 6 of the Financial Conduct Authority's (FCA) Client Assets sourcebook (CASS) provide details...

Practice Note

Background to FCA inducements requirements This Practice Note explains the Financial Conduct Authority's (FCA) rules on inducements (for example fees, commission or...

Practice Note

Background to FCA suitability requirements This Practice Note looks at the suitability rules of the Financial Conduct Authority (FCA). For specific guidance on...

Practice Note

This year’s annual round-up reviews some of the most significant developments of 2017 and previews what is on the horizon for 2018. This includes EU and international...

Practice Note

This Practice Note provides an overview to the Financial Conduct Authority's (FCA) contained in Chapter 4 of the Conduct of Business sourcebook (COBS 4) requirements,...

Practice Note

Where a client: • gives a firm power to deal with his assets (without transferring ownership) under a mandate • gives a firm an asset as a form of security to guarantee...

Practice Note

The Financial Conduct Authority (FCA) and the Competition and Markets Authority (CMA) have the power, under the Consumer Rights Act 2015 (CRA 2015) (which came into force...

Practice Note