FCA: We understand advisers' concerns about simplified advice liability

Speaking at a work and pensions select committee hearing on 16 September, director of strategy and competition Christopher Woolard told MPs the regulator recognised advisers could be fearful of shouldering total liability in advice solutions that focus only on specific client needs. He said the Financial Conduct Authority (FCA) would seek to clarify to what extent advisers are liable when giving focused advice, in its joint market review with the Treasury. However, he said it was unlikely the FCA would consider removing liability for 'simple' advice solutions altogether. "That feels l...