Moscony lists questions every adviser should be able to answer today.
Safeguarding
UK regulator to reshape client asset rules for crypto.
The aim of the reforms is to rebalance risk and allow firms to make well-founded assessments of whether a client meets the threshold of a professional client.
Both sets of regulations aim to mitigate the loss of client money and assets through segregation.
The FCA is aiming to remove ambiguity around safeguarding processes and better align them with the Client Asset Sourcebook.
Customers must be notified about data breaches under new rules.
Changes address concerns about client asset custody problems in the crypto sector.