Jason Wintie: Is the advice/guidance boundary too difficult to navigate?

Amending the definition of regulated financial advice to bring it in line with the EU definition set out in the Markets in Financial Instruments Directive (MiFID) is part of the package of remedies proposed by the Financial Advice Markets Review (FAMR), with the aim of helping to remove doubt over the existing boundary between advice and guidance. While it might not provide a complete solution to the ‘advice gap', clarifying the regulatory perimeter should ensure consumers can access better information and make more informed financial decisions. This is particularly important in scenario...