Financial services regulation 'the last resort'

clock

Regulation of financial services should be the last resort, not the first, says the Association of Independent Financial Advisers (AIFA).

Chris Cummings, director general of AIFA, has responded to the European Commission’s green paper on financial services, which proposes a single European market. The Association of Finance Brokers (AFB) has also responded to the paper, raising concerns over the regulatory future of the secured loans market. The AIFA calls the commission to carry out an independent cost-benefit analysis before introducing any directives. AIFA also says consumers’ needs should come first in any moves to standardise products. AIFA also says the commission must evaluate consumers’ desires to use cross-borde...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PA Working Lunches: Register today to hear from SimplyBiz

PA Working Lunches: Register today to hear from SimplyBiz

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 27 March 2024 • 1 min read
FCA warns firms and finfluencers to 'keep social media ads lawful'

FCA warns firms and finfluencers to 'keep social media ads lawful'

Regulator sets guidance for financial services promotion

Isabel Baxter
clock 26 March 2024 • 3 min read
PA Awards 2024: Winners' photo gallery from the night!

PA Awards 2024: Winners' photo gallery from the night!

The industry's best were celebrated in London last Wednesday

Professional Adviser
clock 26 March 2024 • 1 min read