APFA warns time has run out for denial of regulatory reform

Speaking at APFA's annual dinner in London on 24 November, John Gummer called for changes to regulatory fees and the Financial Ombudsman Service (FOS) and adviser liability, as a "basis for going forward sensibly as a profession". APFA has long been campaigning for such regulatory reforms but Gummer said time has now run out for further negotiations on the issues. APFA estimates the cost of regulation adds £160 to every client seeking an adviser. Gummer said he welcomed the Treasury and regulator's review of the advice market, currently underway, which looks at how advice can be ma...