The ABC of KYC for Financial Advisers

Introduction

How can you demonstrate that a suitable recommendation has been made? By evidencing that you know your client.

Know Your Customer (KYC) is included in a COB Chapter of the FCA Handbook - from the early 2000’s! This session will focus on what the FCA expects of your firm when making personal recommendations to customers.

The FCA rules (COBS Chapter 9) provide essential guidance about how to evidence a firm knows its clients. The FCA knows that a suitable recommendation should follow if these rules are adhered to.

This new virtual seminar will provide an introduction to KYC as a broad overview and will cover everything a firm needs to know about KYC, including how best to display the evidence to demonstrate suitable recommendations.

All financial advisers, and those who deal with client files, will benefit from this virtual seminar as we delve into the details of KYC, paying close attention to the current publications and articles from the FCA.

Understanding KYC within the wider remit of suitability will provide a firm with a robust basis on which to evidence it’s not only adhering to the rules but also working to improve the effectiveness of its business.

What You Will Learn

This live and interactive course will cover the following:

• How FCA COBS rules relate to your client files
• How FCA guidance can help give you peace of mind
• How templated fact-finds do not (necessarily) align to the FCA rules
• An excitement about relevant KYC information
• A practical take-away about how to evidence quality KYC information
• An appreciation of how important it is to consider vulnerabilities

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.