FCA's Dear CEO Letter To Wealth Managers – Focus On Best Execution

At the start of the summer, the FCA wrote to wealth managers (on 13 June) by way of a Dear CEO letter The letter highlighted the key risks that wealth management and stockbroking firms pose to their customers or the markets in which they operate. The FCA is asking firms to consider whether they present these risks and, if so, for them to consider ways to mitigate these. The letter forms part of a 2-year strategy (which began in April this year) - after which time, the FCA will write to firms with their updated view of the key sector risks and their updated supervisory focus. (https://www.fca.org.uk/publication/correspondence/portfolio-letter-wealth-managers-stockbrokers.pdf ).

Key types of harm posed by wealth managers