Everyone is aware that it is a busy times for regulatory change at the moment. The introduction of MiFID II at the beginning of January being the first of a series of new regulations coming in during the early part of 2018. We are also expecting the Policy Statement in Q1 2018 on pension transfers which will set out the final rules and guidance in this high priority area.
Clearly firms need to ensure they adapt their processes to be compliant with the new rules but one of my concerns is that firms will bog their advice processes down with unwieldy compliance requirements. Firms should deal with compliance support firms that take a pragmatic and effective approach to compliance and maintain a focus on good client outcomes.