Following the Intelliﬂo GDPR Working Group's initial meeting to discuss the ramifications of the General Data Protection Regulation (GDPR) for financial advice firms, Rob Walton considers the issue of data subject consent
Data subject consent is primarily aimed at giving data subjects more control over use of their data - for instance in relation to marketing activities, which (in the absence of consent) could not otherwise be legally justified by a data controller. Giving a data subject the option to give or refuse consent protects individuals from unwanted and unjustified correspondence from firms and is very much aimed at the business-to-consumer world. It will affect advisers since it will dictate how they...
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.
Scott Cadger runs through the four most common reasons people give for not taking out critical illness cover - and some suggestions on how advisers can offer reassurance on each in conversations with clients
The Financial Ombudsman Service (FOS) has sought to provide clarity regarding any potential confusion over the products advisers should recommend to clients to cover a decreasing loan or mortgage.