The Financial Conduct Authority (FCA) is concerned about execution-only, or non-advised, sales and the commission payments that such transactions are still allowed to collect.
Minutes of the regulator's June board meeting, which were published on Friday, revealed that the regulator's board was concerned that there needed to be a clear distinction between advised and non-advised sales. It was concerned particularly about those features that could confuse consumers, such as decision trees on websites. The FCA is also worried about the fact that websites selling investment products under the execution-only banner were still allowed to collect commission on those products up until the proposed trail ban in 2016. The board was discussing "whether the continua...
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