Broking Business: Winter 2023

read timeRead time: 23 mins

Welcome to the latest edition of Broking Business – Winter 2023.

The current macro-economic climate, coupled with weak financial resilience caused by the cost of living crisis, may tempt firms to cut corners in their client money compliance. In this edition, we look at the challenges of CASS 5 and explain why the FCA is watching.

Also in this edition:

  • The FCA has published a policy statement, ‘Improving the Appointed Representatives (ARs) regime’, which sets out its updated rules and requirements for principals and ARs. We explain the changes and consider next steps for principals.

  • When you’re closing the 2022 year end financials, tax for 2023 may not be at the top of your list. But the time of year means changes are not far off. We provide some pointers to consider.

  • In July 2022 the FCA published details of its new Consumer Duty. We recap the key points.

  • 2021 was another fascinating year for the UK broker market. We look at some of the main trends including ownership, M&A activity, market concentration and sector specialism.

We hope you find this edition useful and thought provoking. As always, please contact any of the team to discuss how we can support your business and, as always, do let us know your thoughts on future topics