Best Execution: Meeting FCA Expectations

Introduction

As the FCA pivots toward an ‘outcomes-focused’ supervisory model, the threshold for Best Execution has evolved from a procedural requirement to an evidential mandate. It is no longer sufficient to maintain a static policy; firms must proactively demonstrate - through granular data and robust governance - that they are taking ‘all sufficient steps’ to achieve the best possible results.

This bitesize webinar provides insight on how firms must align their execution arrangements with relevant regulatory expectations for Retail and Professional clients. We move beyond the theory of ‘best price’ to examine the technicalities of venue selection, the ‘Four-Fold Test’ for legitimate reliance and the diverging requirements for different client types.

What You Will Learn

This short webinar will cover the following:

• The ‘Sufficient Steps’ Mandate: A technical breakdown of the transition from ‘reasonable’ to ‘sufficient’ steps
• The Four-Fold Test: Determining when a duty of Best Execution is owed and how to document ‘legitimate reliance’
• Client Classification & Prioritisation:
• Retail: Why Total Consideration (price + costs) remains the non-negotiable benchmark
• Professional: How to evidence the weighting of the seven execution factors (e.g., speed vs. price) in volatile markets
• Key challenges: Understanding stress points and high-priority themes
• Governance & Oversight: Key components of an effective framework

This pre-recorded webinar will be available to view from Friday 11th December 2026

Alternatively, you can gain access to this webinar and 2,400+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.