FCA: Switch from industry to profession now rests with advisers

Speaking at the Professional Finance Society (PFS) Conference in Birmingham he said the shift from industry to profession was making progress but there were several areas for improvement - including a more advice-focused approach from firms. Percival said the advice profession's reputation would improve if there were fewer enforcement cases from the Financial Conduct Authority. He added when enforcement action is needed it should be focused on "bad apples" with in businesses, not down to firm-wide practices. He also told delegates there needed to be fewer skilled person reports and va...