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.