The managing director of the Financial Services Authority (FSA), Martin Wheatley, last night congratulated advisers for retaining the trust of their clients, explaining this is the industry's "great strength."
The comments were made in a speech delivered to delegates at the Association of Professional Financial Advisers (APFA) gala dinner. Much of the rest of the speech referred to big changes in the industry marking "a new style of regulation". The big changes Wheatley referred to were, unsurprisingly, the Retail Distribution Review, and the regulator's split into the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA). Wheatley explained that these changes would herald a new style of regulation with "fairness at the heart of the regulator's decision making"...
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