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Home | FSA acts on “widespread failings” among wealth managers |
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FSA acts on “widespread failings” among wealth managers
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- June 15, 2011
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The Financial Services Authority (FSA) says it has identified “widespread failings” in the wealth management industry, following a review. For example, in its scrutiny of 16 wealth management firms, the FSA found: An absence of basic know-your-customer (KYC) information; Out-of-date KYC information; Inadequate risk-profiling; Some firms not implementing MiFID client classification requirements; Lack of recorded [...]
- Read more at:http://www.bankingtimes.co.uk/2011/06/15/fsa-acts-on-widespread-failings-among-wealth-managers/
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