FCA warns wealth managers and stockbrokers

The FCA issued a Dear CEO letter on 8 November 2023 to wealth management and stockbroking firms setting out its assessment of key harms and supervisory priorities for the wide-ranging ‘Consumer Investments’ sector.

The letter focuses on financial crime and Consumer Duty compliance as significant areas of concern, and the regulator warns firms that it will take an assertive, intrusive, proactive, and data-driven approach to supervision across the sector.

Download this At a glance for a detailed summary of the letter and what it means for firms.