The regulator will not issue checklists for advisers to allow them to stick to a particular protocol when assessing product suitability for their clients because they are "counterproductive", technical specialist Rory Percival has said.
Percival told delegates at Distribution Technology's London conference the 'prescriptive' nature of checklists went "against the grain of how the Financial Conduct Authority (FCA) regulates". He said...
What made financial headlines over the weekend?
Panel suggests FCA focus 'particularly' on sector in regulatory policy
Panellists discuss why UK income-seekers should consider the US
UK economy hits a seven-year low
Public Accounts committee criticised HMRC's lack of strategy