Advisers have urged the Financial Conduct Authority (FCA) to fix its register, claiming it currently misleads clients and allows scammers to take advantage of consumers.
Since the Senior Managers and Certification Regime came into effect last week, individual advisers are no longer required to be listed on the FCA's register. Yardstick financial services agency founder Phil Bray complained the revised register would "actually help scammers" now it has reduced ways for the public to check the validity of advisers. Just looked up an adviser on the FCA Register to see the message: "Regulatory approval no longer required." When it should be used to fight scams and as we saw with OneCoin FCA decisions are used by fraudsters, the Register is a complete...
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