New GFSC Fiduciary Rules
GFSC Fiduciary Rules and Guidance have now been published - some key points:
- Some content will be familiar from the Fiduciary Codes of Practice, FRR and Accounts Rules, which the Fiduciary Rules replace
- They also replace Pension Licensees COB Rules 1 – 9, increasing consistency across pension and non-pension fiduciaries and business lines
- The Rules extend further into conduct of business, including client money controls and client interaction
These final Rules follow in-depth consultation last year, and will come into operation on 31 December 2020.
The Rules can be accessed here.
We can help with practical gap analysis, advice, policies or procedures.