Please enable JavaScript.

Coggle requires JavaScript to display documents.

Module 5 - FCA handbook (Block 1 High Level Standards, loads in here but i…

- - - - Have to be based in UK
      - Have to have compliance team/individual
      - People must be suitable to do there jobs
      - Must have the right processes in place to deal with customers needs
  - - - Application fee
        
        from £1500 upwards
      - Periodic fees
        
        cover the majority of cost for FCA
        
        Dependent on the size of the firm
      - special project fee's - ad hoc depending on what work needs doing ie a merger
- - - - Applies to life, pension and investment business
      - Provides guidance on how they should deal with customers
    - - Limit provider benefits to clients
  - - - Mortgage credit directive 2016
        
        Applies to first and 2nd mortgages
        
        FCA can now supervise
  - - - Need separate bank account for client money
      - Only applies to firms that hold client money
      - Ineterst applies to clients unless specified