India, June 16 -- Rathbones Group Plc (RAT.L) on Tuesday said it expects to incur about £60 million in costs over the next two years to address findings from a regulatory review of its UK Wealth Management business.
The review, conducted following engagement with the Financial Conduct Authority (FCA), identified areas for improvement in the implementation of Consumer Duty and certain compliance, oversight and assurance arrangements.
The company said it will undertake a two-year programme to address the review's recommendations and conduct a targeted review of certain clients to assess whether they received good outcomes.
Rathbones will also voluntarily pause onboarding new clients requiring enhanced due diligence for up to 12 months...