New GFSC Fiduciary Rules

GFSC Fiduciary Rules and Guidance have now been published - some key points:

• Some content will be familiar from the Fiduciary Codes of Practice, FRR and Accounts Rules, which the Fiduciary Rules replace
• They also replace Pension Licensees COB Rules 1 – 9, increasing consistency across pension and non-pension fiduciaries and business lines  
• The Rules extend further into conduct of business, including client money controls and client interaction

These final Rules follow in-depth consultation last year, and will come into operation on 31 December 2020. 

The Rules can be accessed here.

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