Regulatory Alerts2025-12-08
Added · Updated
CP25/36: Client categorisation and conflicts of interest
The Financial Conduct Authority proposes introducing an alternative wealth assessment route allowing firms to categorize individuals with at least £10 million in investable assets as elective professional clients, subject to informed consent. The proposal seeks to remove the current quantitative test in COBS 3.5.3R(2) while retaining enhanced qualitative assessments and prohibiting incentives or pressure to opt out of retail protections. Additionally, the document outlines plans to rationalize conflicts of interest rules in SYSC 10 and SYSC 3 to streamline the Handbook without changing regulatory burdens, and to rectify a technical issue with non-MiFID personal account dealing rules.
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