B-Compliant

Making quality compliance affordable | Expert compliance support services for financial professionals in the UK

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Read our new article in @_moneymarketing - a must read for all IFAs! #compliance

https://t.co/l5GIbyRVd9

[B-Compliant @b_compliant]

We were proud to call ourselves Mancunians last weekend, when Pride returned to the city and we partied in the sunshine! 🌈 Since then, we’ve packed in one-to-ones, due diligence and the usual file reviews. We’ve also eaten more cake to celebrate Bronach’s latest exam success! 😋

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Are you ready for our next podcast? This week we're discussing the FCA's exploration of synthetic data, the growing impact of SuperSARs and current budget speculation. Join us now to find our more: https://t.co/UBRuULAFSc

[B-Compliant @b_compliant]

As the autumn budget draws near, the rumour mill is working overtime and IHT is centre stage. Please remember, you must only give advice based on currently legislation. Acting on ‘what ifs’ could lead to financial harm if the scenario doesn’t play out the way you anticipated.

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The Investment Association has thrown a spotlight on SuperSARs. These complex Suspicious Activity Reports involve layered transactions, professional enablers and international flows. Don’t treat SARs as a tick-box exercise. If you spot a pattern, it could be worth escalating.

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Rachel spotted hot air balloons after visiting a client in Coventry this week. The B-Hive has been buzzing with a due diligence project and research for AI suitability report tools, but we still found time to start planning our Christmas party and a game of fetch with Willow!

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FCA data shows a marked increase in whistleblowing during Q2 of this year. It is a reminder that you must ensure your whistleblowing policies are not only compliant, but also embedded in day-to-day culture. If you would like help assessing your policies, please contact us.

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The FOS is consulting on its case fee structure, with a view to creating a fairer and more proportionate system. The proposed changes would see firms pay lower fees for complaints that are resolved earlier in the process. If you’d like to have your say, you have until October 8.

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Rebecca and Vicky visited clients in London’s Finsbury Circus this week and snapped some pics of the area’s contrasting architecture. Rebecca also squeezed in another trip to North Manchester, whist we’ve been helping expert marketeer, Kyle, settle into the B-Hive!

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Consumers will soon be able to access crypto exchange traded notes (cETNs) in a move that marks a notable shift for the FCA. Crucially, this decision does not change the regulator’s position on investment advice and firms must be clear about the scope of their permissions.

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The FCA’s review into how firms are managing the risks associated with off-channel communications is particularly relevant to MiFID investment firms in the scope of the SYSC 10A recordkeeping rules. We would recommend revisiting your frameworks in light of the findings.

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Vicky snapped this pic of Manchester’s beautiful St. Mary’s Catholic church on her way to a public speaking training session. Back at the B-Hive, we’ve been writing compliance reports and disaster recovery plans, undertaking T&C supervisor training, 1-2-1s and a website review.

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The FCA has published its findings into data quality controls in the benchmarks sector. Its core message carries weight for all regulated firms, especially the emphasis on strong governance. If you’d like support reviewing your approach to data collection, we’re here to help.

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It’s been five weeks since the FCA issued its mandatory information request. If you haven’t done so already, please ensure you at least acknowledge receipt and confirm your firm-specific deadline. If you need help with any aspect of the request, don’t hesitate to contact us.

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The Data Use and Access Act 2025 is now operational. You’ll need to understand your duties under the act, particularly regarding data access requests and third-party sharing. Why not use it as an opportunity to review your data policies and procedures and check your contracts?

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We finally have clarity on how pension schemes will be treated for inheritance tax from April 2027. This is the most significant change to UK estate planning since the introduction of pension freedoms. If you have any questions about how you can help clients, please get in touch.

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A client visit took Rachel to sunny Southport this week, where she managed to snap this pic during a soul-uplifting walk along the beach. The rest of us have been beavering away at the B-Hive as usual, although we did stop to celebrate both Rebecca and Bronach’s birthdays!

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We could be about to see the authorisations process for firms and individuals speed up. The FCA has announced a series of measures to deliver a quicker, more proportionate and predicable process to help firms respond to feedback and reduce the likelihood of delays.

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The FCA has published a consultation paper setting out wide-ranging proposals to modernise the UK’s redress framework. This is a key opportunity to help shape the reforms and we urge you to read the full proposals and provide feedback before the October 8 deadline.

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We can’t let a Birthday pass at the B-Hive without celebrating. 🎉 This week, office doggy, Tigs, turned an impressive 13! Whilst she’s been wrestling her way out of that hat, we’ve been focusing on file reviews. Although Rachel escaped briefly to visit a client in Coventry!

[B-Compliant @b_compliant]

The FCA has revealed plans to review its client categorisation rules, to expand investment opportunities for HNW individuals and strengthen capital markets. The changes aim to stimulate growth by making the regulatory framework more supportive of innovation and capital raising.