FCA Dear CEO Letter: Wholesale Broker Priorities
About this episode
The Financial Conduct Authority (FCA) issued a "Dear CEO" letter outlining its two-year strategy for supervising wholesale brokers in the UK. Key concerns include broker misconduct, inadequate financial crime controls, inconsistent remuneration practices, and insufficient financial resilience. The FCA highlights the need for improved corporate culture, robust risk management frameworks, and compliance with regulations like the Senior Managers and Certification Regime (SM&CR). The letter urges CEOs to address these issues and implement necessary changes by March 2025. A second source summarises the letter's main points, emphasizing the FCA's four strategic pillars: broker conduct, culture and remuneration, financial crime, and financial resilience.
Get every episode summarized
Each time Compliance Officers Playbook publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
Hosts & guests
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from Compliance Officers Playbook
EU AI Act Explained: Compliance Strategy, Risk Categories & Governance Tools for...
Compliance Officers Playbook
Vietnam’s Inclusion on the EU Non-Cooperative Tax Jurisdictions List
Compliance Officers Playbook
Global Corruption Perceptions and the Decline of Institutional Integrity
Compliance Officers Playbook
FCA Enforcement: Influencers Fined for Unauthorised Financial Promotions
Compliance Officers Playbook