“Client Suitability” is both a legal and regulatory requirement. In common law jurisdictions, firms have a fiduciary duty to their clients.
During the financial crisis it became apparent that many firms didn’t know either their client’s investment profiles or the products they were selling. The result was disgruntled clients from Hong Kong and Singapore through Europe and the US.
Regulators are now upgrading their rules to ensure clients are recommended suitable investment products and that firms understand what they are selling.
GRC-Maestro supports your Client Suitability management and reporting with:
- Maestro-Templates: based on your specific Client Suitability requirements for different client classifications and investment products
- Schedules: periodically sending Maestro-Forms to designated control staff
- Incidents: evaluate responses with automatic and manual incident creation, reporting and resolution
GRC-Maestro evidences to your clients and regulators that your business operates an effective Client Suitability management environment.
Reporting on: Client Suitability
- Product Due Diligence
- Client Investment Profile