Financial Conduct Authority visits Exeter
Last week I chaired a meeting at the Exeter Golf Club with the head of Investment and Platforms Supervision, Clive Gordon of the Financial Conduct Authority (FCA). I had organised this in my role as Chartered Champion for the area and it was great that he had taken a day out to visit the South West.
There were over 20 Chartered Financial Planners present from all over the South West having a round table discussion on the various requirements of the Financial Conduct Authority.
Clive explained how the Financial Conduct Authority, who are based in Canary Wharf in London, are now making a big effort to be more approachable by Financial Advisers in helping them to better understand the compliance and requirements that the FCA see as best practice.
Clive also sought feedback from advisers as to how and what would be beneficial with some good ideas coming to the fore. It is really good to see the new body, the FCA (who took over from the FSA in 2013) making every effort to work with the Financial industry in a constructive way whilst still of course maintaining their role as regulator.
All of this should promote what the regulator, advisers and clients all wish which is a better final outcome for the consumer in a compliant and ethical way.