Technology has 'greyed' advice and guidance distinction - FCA

Speaking to the Cambridge Judge Business School, he said that, as financial services moves away from paper-based systems, the question of what firms, transactions, products and services the regulator must cover becomes "more problematic than you might have expected". "The problem is exacerbated further by the remorseless march of technology," he continued. "Rules that were designed for the paperwork era do not necessarily work for the online one. The distinction between advice and guidance, once reasonably clear, has become much greyer with the advent of platforms and the potential of ro...