The Association of Professional Financial Advisers (APFA) has said it fears innocent advisers would be disadvantaged and their names not cleared sufficiently under new proposals by the Financial Conduct Authority (FCA) about publishing warning notices.
Responding to the regulator's consultation paper on publishing information about warning notices, published in March, APFA said the proposal needed to outline in more detail how it would rectify false accusations of innocent firms. APFA said: "Our concern about the power to publish warning notices has always been whether a financial services firm wrongly condemned publicly will have its name cleared in an equally public fashion. "We are therefore concerned about the lack of detail contained in this paper about how the process for issuing a notice of discontinuance will work." The a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
