Disclosure Assessment Template

Following last month’s article in the Bulletin Board relating to the FCA thematic review on IFA disclosure where we produced a checklist for you to complete, it appears the regulator has come up with their own version. We do not think it is as comprehensive as the version we provided you with, but do think it’s important to flag the FCA template up to you.

To assist firms, the FCA  have published an assessment tool and supporting guide to enable firms to review their disclosure documents against the key disclosure requirements of the RDR. This is similar to the template that they used to assess compliance with the disclosure requirements in the second cycle of their thematic review. They plan to use this template to assess firms' disclosure when carrying out the third cycle of our review, which starts in mid-July.

The use of this template is not compulsory, but the FCA encourages all firms to complete the template, make any changes to their client facing documentation and save a copy for their records.

The FCA however do point out that use of the template alone does not constitute compliance with all the disclosure requirements!

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