FCA: Risk assessment processes and controls in firms – our findings

FCA carried out a multi-firm review focusing on business-wide risk assessment and customer risk assessment processes.  Firms involved in this review included: building societies, platforms, custody and fund services, payments (e-money), and wealth management firms.  FCA sets out examples of good and poor practice and encourages firms to consider the findings and suggestions and continue to review their risk-based approach to systems and controls.