'Negative' MiFID II to boost restricted channel - advisers say

Advisers ‘uncertain’ of personal impact

Tom Ellis
clock • 2 min read

The majority of advisers believe the Markets in Financial Instruments Directive II (MiFID II) regulation will lead to an increase in restricted advice, according to a study of 612 financial advisers by CoreData Research.

Almost half (45%) of the advisers surveyed expected the incoming European regulation would negatively impact the advice sector, compared with one-sixth (17%) who said they thought it would be beneficial. The Financial Conduct Authority (FCA) has already laid out its plans to replace the Retail Distribution Review standard on 'independence' with a definition more in line with the MiFID II interpretation, and half (52%) of those polled expect to see advisers move from giving independent to restricted advice in a post-MiFID II world. The regulator has suggested the new MiFID II standard ...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Agile IT needed as rapid regulation change becomes the norm

Agile IT needed as rapid regulation change becomes the norm

'Gone are the lengthy consultation and rule-setting cycles that often took several years'

Paul Muir
clock 15 April 2024 • 6 min read
Leveling up the playing field when it comes to picking skilled persons

Leveling up the playing field when it comes to picking skilled persons

Given the prerequisite for accuracy, a rigorous selection process is essential

Richard Farr
clock 15 April 2024 • 4 min read
A practical way forward: Utilising hybrid to close the advice gap

A practical way forward: Utilising hybrid to close the advice gap

Will the FCA's advice/guidance review increase access to advice?

Chet Velani
clock 02 April 2024 • 6 min read