Dear [FIRSTNAME],
You may well read the first article as reinforcing the FSA’s approach to ‘intensive supervision’ and which also reads as a plea to the Government to leave the FSA in place as all the necessary changes have already been addressed.
Client money features in 3 articles and the first two at the top of pages 3 and 4 offer a valuable lesson as the firms concerned were well intentioned but failed to validate client accounts correctly. The message is clear – Check, check and check again that all details are compliant.
A must read and must do is the second article on page 2 – Online Notification and Applications (ONA) – which is going live. If you haven’t used this system before you will first need to register. All the listed notifications must now be done online and not on paper.
If we can be of further service on these or any other regulatory matters please remember your helpline 08456 12 12 11 for a without obligation conversation or email admin@ifact.co.uk.
Kind regards
John Derry-Collins
FInst SM AMITD Fcol MInstD MIoD
Director
IFAct Services Ltd
Tel. No. 08456 121 211
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