The Financial Conduct Authority (FCA) has offered help to financial advisers who want to build simplified advice models, saying it is prepared to give 'individual guidance' or an 'informal steer' as part of its Project Innovate.
Access to help from the FCA on bringing new ideas to market - from both regulated and non-regulated firms - will be managed through the regulator's Innovation Hub, launched today. Individual guidance will centre on how the FCA's "rules or other regulatory requirements" apply to a firm's "own particular circumstances or plans" and will be based on the firm's prior research on the topic. Informal steers will be provided more quickly but "recipients rely on them at their own risk", the FCA said in a feedback statement on Project Innovate, published on 28 October. The steers and guidan...
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