Gummer: We need to stop bad advisers popping up elsewhere

Speaking at the APFA annual dinner on Wednesday evening, Lord Deben, John Gummer, (pictured) said the regulator had placed too much emphasis on the advised sales process and had failed to act as a 'gatekeeper' to protect the industry from bad practitioners. He told the audience: "We need a balance between the regulatory and the supervisory process. "The FCA needs to focus on gatekeeping, approving only the right people, and for a scheme to work with the FCA to share information that bad advisers do not pop up again elsewhere." He added: "Our members feel most strongly that people w...