John Griffith-Jones spoke to the Wealth Management Association on FCA's commitment to consumer protection. He focused on the importance of good business models showing consumer interest is important and said FCA would be looking at:
- the consequences of the Retail Distribution Review (RDR) and in particular how firms are filling the "advice gap";
- suitability, particularly urging firms to keep documentation that shows they have considered suitability properly; and
- compliance with anti-money laundering (AML) requirements.
(Source: FCA Speaks on Wealth Management)