The regulator must be more explicit in explaining what it wants and expects from advisers, or it will fail to achieve its aims, the chairman of the Association of Professional Financial Advisers (APFA) has said.
Speaking at APFA's annual dinner, John Gummer said that, unless the messages from the regulator are clear, firms will not - and can not be expected to - behave as it demands. He also called for lighter-touch regulation in which firms are given the ability to innovate. Speaking at the gala event on 18 November, Gummer said: "I've read the report on where the FCA wishes to go, and it's very good insofar as it goes," he said. "But what it lacks so far is a clear, detailed explanation of what good looks like. What it is that they are looking for?" Gummer conceded the accountability of ...
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