APFA calls for regulatory action to address lack of long-stop

More than four-fifths (85%) of advisers who responded to APFA's latest Cost of Regulation survey stated the lack of a longstop created concerns for their personal finances when planning retirement, while a quarter (25%) indicated they were likely to defer their retirement in order to pay for professional indemnity (PI) insurance. APFA has called on the FCA to reconsider its position on the longstop and investigate the alternative options the trade body argued "were not properly considered" in this year's Financial Market Review (FAMR). While a 15-year long-stop remains APFA's priority...