What happened?
TCC’s Technical Director David Boyhan has written an article for Money Marketing examining the FCA’s portfolio strategy letter for financial advisers and investment intermediaries, published on 7 October 2024. The letter has become an established part of the regulator’s communications, sitting alongside its annual business plan.
Unlike the business plan, the portfolio strategy letter provides sector-specific detail, setting out the FCA’s priorities and expectations for advisory firms.
Why does it matter?
The article highlights that the regulator’s update points to the importance of firms carrying out adequate due diligence of their back books. For advisory firms, this signals an area the FCA is likely to focus on when assessing supervisory priorities.
Supporting sources
Frequently asked questions
What does the FCA's portfolio strategy letter cover?
It sets out the FCA’s sector-specific priorities and expectations for financial advisers and investment intermediaries, published alongside the regulator’s annual business plan.
What did TCC's David Boyhan highlight in his article?
He highlighted why the FCA’s update points to the importance of firms carrying out adequate due diligence of their back books.
Where was the article published?
The article was published by Money Marketing.
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Reviewed by TCC Group Editorial Team