---
title: FCA's Dear CEO Letter to Wealth Management and Stockbroking Firms
description: The Financial Conduct Authority (FCA) has published a ‘Dear CEO’ letter to wealth management and stockbroking firms.
---

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# [FCA's Dear CEO Letter to Wealth Management and Stockbroking Firms](https://www.plenitudeconsulting.com/news-insights/fcas-dear-ceo-letter-to-wealth-management-and-stockbroking-firms)

 Written by [Insight & Partnership Team](https://www.plenitudeconsulting.com/news-insights/author/insight-partnership-team) | Nov 8, 2023 9:22:00 AM

The letter highlights two areas of concern, prevention of financial crime and implementation of the Consumer Duty, and set outs the following principles:

- Staying vigilant against knowingly or unintentionally engaging in fraudulent activities, scams, or money laundering.
- Understanding your financial crime risks by thoroughly assessing your clients, their transaction patterns, and corporate structure.
- Avoiding superficial, checkbox-style compliance measures or outsourcing responsibilities to third parties.
- Establishing strong and effective systems and controls to combat financial crime and money laundering, tailored to your risk profile.
- Ensuring individuals holding the SMF 16/17 positions possess the necessary expertise, skills, and independence.
- Acting promptly by sharing and reporting any information about misconduct with the FCA and relevant law enforcement agencies.
- Embracing the FCA’s Financial Crime Guide (FCG) and Financial Crime Thematic Reviews (FCTR), which provide a roadmap for firms to protect themselves against financial crime.

[View full post](https://www.plenitudeconsulting.com/news-insights/fcas-dear-ceo-letter-to-wealth-management-and-stockbroking-firms)

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