The Financial Conduct Authority (FCA) must adopt greater transparency and a more market oriented approach to regulation, the Association for Professional Financial Advisers (APFA) has said.
The comments were made in a response to the Financial Services Authority's (FSA) consultation paper, Journey to the FCA. Chris Hannant, policy director at APFA, said: "The consultation paper contains a number of proposals that will lead to better regulation if applied in the right way. "APFA believes the competition objective for the FCA should lead to it taking a more market oriented approach. In the past too little regard has been paid to the cumulative effect of regulation on both consumer outcomes and the profession as a whole. "It is incumbent upon the FCA to ensure that we ha...
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