CP19/20 – a most confusing consultation paper

A recent missive from the Financial Conduct Authority that appears to place new obligations on firms with regard to ‘adequate financial resources’ while simultaneously stating that it does not impose specific obligations, has the industry confused and concerned. Julian Sampson calls for clarification.

Julian Sampson(julian@fulcrumcompliance.com) is director of Fulcrum Compliance (www.fulcrumcompliance.com) and was chair of the Chartered Institute for Securities and Investment compliance professional forum from 2009-2015.

You know you need to worry when the FCA talks about making the regulatory system fairer for firms.