If you give investment advice, then – as I’m sure you’ll know – a mandatory S165 information request will soon be arriving in your inbox, courtesy of the FCA.  As you would expect, we’ll be providing plenty of support to make sure you feel confident and prepared as you approach the completion of this survey – including this dedicated Compliance Clinic.

During this 1hr session, our expert team will discuss key considerations for your preparation, provide guidance on what the regulator is looking for in your response and answer any questions you may have.

We understand the majority of Simplybiz members will receive the request on the 30th of June. Within the request, there will be a link to an online survey tool.  We understand the survey is likely to be around 28 questions long and firms will have 12 weeks to complete, although this may vary depending on the size of your firm.  The subject areas covered will include:

• Those involved in delivering financial advice/planning services to clients
• Active clients
• Advice process and control
• Business model and future plans

In recent years, the FCA has adopted a data-led approach to supervision, and this means they may carry out follow up work based on responses, so it’s very important to allocate time to review and complete the survey before the deadline and answer the questions carefully.