The regulator has warned advisers about the dangers of relying on introducers, saying it is "very concerned" about their "inappropriate influence" on investment decisions.
The Financial Conduct Authority (FCA) released a warning on the subject urging firms which accept business from an introducer or lead generator to make sure it meets regulatory requirements, highlighting specific problems it had identified with pension transfers into high-risk products. It said if customers are given unsuitable advice by an introducer, the authorised firm may be held responsible and subject to regulatory action. It added offering simplified advice would not help firms evade liability. The warning said: "We are very concerned at the increase we have seen in cases in wh...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
