Why advisers will still have to send 10% drop letters
By Imogen Tew
April 1, 2020, FTAdviser
Advisers will have to send further 10% depreciation notifications to their clients if markets continue to fall, despite the regulator’s “flexible approach”.
Yesterday evening (March 31) the Financial Conduct Authority told advisers they were allowed to take a flexible approach on the 10% notification requirement, part of MiFID II, in light of the volatile market conditions caused by the coronavirus crisis.
