On 9 December 2015, the Financial Conduct Authority (FCA) published a thematic review – TR15/12: Wealth management firms and private banks: suitability of investment portfolios. The review is part of a series of earlier reviews carried out in 2010 by the FCA in relation to suitability of discretionary and advisory investment portfolios, managed by wealth […]

FCA Finds 60% of Investment Portfolios Unsuitable or Unclear – The FCA’s thematic review into the suitability of investment portfolios within wealth management and private banking firms is the latest in a long line of regulatory investigations into this area. Earlier thematic work highlighted that many firms struggled to demonstrate the suitability of their portfolios […]