FCA: Regulation hinders product cost comparisons

Carmen Reichman
clock

Too many regulatory requirements around what charges need to be disclosed on investment and savings products make it difficult for advisers to assess and compare the cost of products, Financial Conduct Authority (FCA) technical specialist Rory Percival has said.

He said he did not want to blame regulators, but regulation coming from Europe has made charges confusing for advisers and clients alike. Percival (pictured) said the FCA is currently reviewing the effectiveness of disclosure across the financial services market. He was speaking at the annual conference of the Centre for the Public Understanding of Finance, which is sponsored by financial services firm True Potential. Percival said: "A lot of the disclosure requirements are sourced from Europe. I'm not blaming Europe but that is the fact of the matter. We have one regime for funds,...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA's SDR regulation will 'make advisers sit up and listen'

FCA's SDR regulation will 'make advisers sit up and listen'

‘There has to be a fundamental re-educating of the adviser community’

Isabel Baxter
clock 30 November 2023 • 4 min read
Advice/guidance boundary review will help 'bridge advice gap'

Advice/guidance boundary review will help 'bridge advice gap'

The FCA’s latest update leads to mixed reactions from the industry

Sahar Nazir
clock 04 August 2023 • 4 min read
FCA review confirms investment pathways working 'as intended'

FCA review confirms investment pathways working 'as intended'

No changes to initiative but industry called to better support savers

Holly Roach
clock 12 July 2023 • 3 min read