The Financial Conduct Authority (FCA) has asked UK financial advisers if they think the criteria they must meet to call themselves independent is out of sync with Europe-wide definitions.
The regulator has said it will also look at how the independent and restricted labels could be made clearer to consumers in a forthcoming discussion paper, but will not change the terms, it said. Under MiFID II IFAs need to assess a "sufficient range of different product providers' products [...
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