FCA clarifies inducements law for advisers attending awards ceremonies

Awards ceremonies are regarded as hospitality by the regulator, and firms will pass its inducements test provided the hospitality is in the UK, that it could not impair the invited adviser's ability to act in the best interest of his or her clients, and provided their attendance is not based on criteria that incentivises poor behaviours. Clarity on the issue was sought by Clive Waller, organiser of the Aberdeen UK Platform Awards, who said he had "been concerned at some of the comments we have heard from various sources about the ability to entertain advisers at awards dinners". The F...