FCA investment conduct of business

This Overview provides a guide to Lexis+® UK Financial Services content within the FCA investment conduct of business subtopic, with links to appropriate materials.

Authorised firms in the UK that carry on ‘designated investment business’ or ‘long-term insurance business’ in relation to life policies have to comply with a wide range of high level day-to-day business standards which have been set by the Financial Conduct Authority (FCA) and which the FCA constantly reinforces. These standards apply to various aspects of their relationships with clients including:

•
conduct of business obligations
•
client categorisation
•
communicating with clients
•
information about firms
•
client agreements
•
suitability or appropriateness of investments
•
dealing and managing
•
underwriting and placing
•
preparing and providing product information to clients
•
reporting to clients

The standards are set out in the Conduct of Business Sourcebook (COBS). The purpose of the rules is to protect clients and to ensure that they are treated fairly (COBS 1.1.1R and 1.1.1AR). The FCA is keen to ensure that clients are always able to make effective and well-informed choices. The content of COBS

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Financial Services News

Sustainable finance and ESG weekly round–up—21 November 2024

This week's edition of the Sustainable finance and ESG weekly round-up from the Finance Group includes: (1) ICC issues guidance on successful Carbon Pricing, (2) COP29 round up, and (3) ESAs issue ‘Fit-For-55’ climate scenario analysis results.

HM Treasury issues advisory on Oil Price Cap evasion tactics

HM Treasury (HMT)and the Office of Financial Sanctions Implementation (OFSI) have released an advisory concerning the Oil Price Cap (OPC) regime. The guidance specifically addresses evasion strategies involving the manipulation of product origin through the use of fabricated and falsified Certificates of Origin (CO). This advisory aims to alert relevant parties to the risks associated with such practices and to enhance compliance efforts within the oil trade sector.

FCA proposes extension for handling motor finance commission complaints following court ruling

The Financial Conduct Authority (FCA) has published a consultation paper (CP24/22) on extending the timeframe for motor finance firms to handle complaints related to non-discretionary commission arrangements (non-DCA). The proposed options are either until 31 May 2025 or until 4 December 2025. Responses are sought by 5 December 2024. The FCA also plans on publishing its feedback and its policy statement by 19 December 2024, emphasising that firms should use this extended period to adequately prepare resources for investigating and responding to complaints.

BoE’s Sasha Mills’ speech on the potential transformative impact of innovation in wholesale financial markets

The Bank of England (BoE) has published a speech by its executive director for financial markets infrastructures, Sasha Mills, discussing how innovation in wholesale financial markets, such as tokenisation and programmable platforms, could revolutionise post-trade processes, making them faster, cheaper, and more efficient. The BoE is also exploring ways to maintain central bank money as a settlement asset for digital transactions, including plans for experiments on synchronisation and wholesale central bank digital currency.

View Financial Services by content type :

News