As the half way point of the year cruises past like a sunny day we focus on the next six. How has your year been to date?
Compliance requires prioritisation â€“ so what should you focus on this next six months?
The first place to look is the FCA business plan. As with so much in life these days, national bodies determine our actions.
The FCA focus for IFAs can be gained from their business plan. Pension transfers and â€œexploiting consumers' lack of knowledge of pension productsâ€ is prime focus. Secondly comes Data Security.
It is good to remind yourself of these priorities at the half way point of the year and ask how you have done. Pension Transfers and drawdown and switches will hit you in the face anyway, as they come up on the PII returns â€“ and most firms renew at the end of the coming third quarter. Data Security is a bit less tangible, but if you use the GDPR microsite then you will be safe. IFAC will be auditing this aspect.