FCA consumer duty rules: Regulation overkill fears dampen adviser enthusiasm

But improvements to consumer service broadly welcomed

clock • 3 min read

The FCA's latest consumer duty intervention is designed to ensure better outcomes for all clients. Tom Higgins gauges adviser reaction to the proposed measures with some saying more regulation is not what the profession needs...

Following publication of the long-anticipated Financial Conduct Authority (FCA) consultation on consumer duty rules, the adviser and wider financial community have expressed their views - with some saying that pitfalls risk creating additional challenges. The 56-page consultation describes areas of consumer harm the financial advice sector should address, and the additional rulings the FCA believes will help achieve its aims. Martin Bamford, Chartered financial planner and founder of Bear Content says the proposal comes "close to introducing a fiduciary standard for advisers", adding ...

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