By James George, Compli-Serve
The discussion around the Conduct of Financial Institutions Bill has again produced predictions of sharply higher compliance costs and an increasingly difficult future for independent financial advisers. Some concern is understandable, but much of the anxiety misses the practical direction of travel. COFI is not simply ...
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FAnews reports that the Date of First Appointment (DOFA) remains a critical but often underestimated part of representative compliance. It is the benchmark from which various Fit and Proper timeframes are measured, including experience, regulatory examinations, qualifications, class-of-business training and supervision. Crucially, moving to a new FSP does not ordinarily ...
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Moonstone Compliance COO Billy Seyffert says the familiar warnings that new regulation will make independent advice unaffordable or force advisers into tied models should be treated with caution. Similar predictions accompanied FAIS and successive Fit and Proper reforms, yet independent advisers remain an important part of the market. While the ...
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By Lee Rossini
Financial services are an essential part of the modern economy, helping individuals and businesses manage money, build wealth, and protect themselves against financial risks. Unlike physical goods such as cars, clothing or furniture, financial services are intangible. This means they cannot be seen, touched or physically possessed. Because of this unique characteristic, financial institutions must find effective ways to demonstrate the value of their services and build trust with their clients as they experience the value of these services through the expertise, advice and outcomes they receive.
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