The regulator has shown its support for traditional methods of giving advice, telling the European Commission to accommodate ‘multiple channels' in any future legislation of the market to allow customers to select the service they prefer.
The Financial Conduct Authority (FCA) said it was important to ensure face-to-face and telephone-based advice remained available to consumers, in its response to an EU Green Paper on retail financial services. The paper's aim is to work towards improving choice, transparency and competition in retail financial services for consumers across the EU. The Commission wanted to find out what barriers firms faced in providing services cross-border and whether consumers would be more inclined to buy other countries' products through access to better digital services. The FCA showed support...
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