Conflicts of interest and other supervisory priorities for wholesale firms

The regulator has published feedback on its multi-firm Review of share buybacks, gifts and entertainment, off-channel communications, transaction governance, along with client asset arrangements. Denis O'Connor discusses discrepancies and lessons from the findings.

All firms may learn lessons from the recently published Review [1] by the Financial Conduct Authority of some wholesale firms' management of certain perennial regulatory issues. The Review provides an opportunity for firms to benchmark their own procedures and reveals data along with insights that are not usually publicly available.