The FCA are deliberately non-prescriptive about the exact structure and content of a suitability report, leaving it up to the adviser to achieve a standard that is acceptable.They do however offer guidance. This has evolved over time and continues to be distributed via a number of different channels including:
- COBS 9.4.7R;
- FCA Factsheets;
- Positive Compliance workshops
- FCA best practice guides; and
- General guidance notes following supervisory activity.
We’ve created a helpful checklist that summarises this guidance in one quick reference resource. You can download your suitability report checklist here.