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The term is commonly used in the United Kingdom where IFAs are regulated by the Financial Conduct Authority (FCA) and must meet strict qualification and competence requirements. Typically an independent financial adviser will conduct a detailed survey of a client’s financial position, preferences and objectives; this is sometimes known as a ...
Financial Services Commission (FSC) ; Financial Supervisory Service (FSS) ; Korea Deposit Insurance Corporation (KDIC) Kosovo: Central Bank of Kosovo: Kuwait: Central Bank of Kuwait ; Capital Markets Authority (CMA) Kyrgyzstan: State Service for Financial Market Regulation and Supervision (FSA) Laos: Lao Securities Commission (LSC) Latvia
The FCA works alongside the Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements for the financial sector. The FCA is responsible for the conduct of around 58,000 businesses which employ 2.2 million people and contribute around £65.6 billion in annual tax revenue to the economy in the United Kingdom ...
These are specified, under section 59 of the Financial Services and Markets Act [1] which still stands as the reference after the FSA split into the FCA and the PRA. [2] The FCA is solely responsible for all applications for approval for FCA Designated Controlled Functions for all FCA solo regulated firms. [3]
COMPLY SMCR is purpose-built for UK financial services organisations and U.S. institutions with entities subject to FCA regulations. It is designed to manage the Senior Managers Regime, Certification Regime, and Conduct Rules, ensuring firms and staff clearly understand roles and responsibilities. Key COMPLY SMCR capabilities:
Financial advisers need to pass a series of exams and receive a Diploma in Financial Planning (or, prior to the Retail Distribution Review, a Financial Planning Certificate) and also authorised by the Financial Conduct Authority, a UK government qango that must be satisfied that the adviser is a “fit and proper person” before they may ...
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