Advisers unimpressed with FCA guidance proposals

Questions asked about who will foot the bill

Hannah Godfrey
clock • 2 min read

Advisers are unimpressed with the latest Financial Conduct Authority (FCA) proposals to give consumers in receipt of financial guidance access to regulatory protections.

Advisers were particularly curious about who would foot the bill for the proposals, which were outlined in a consultation on the Financial Advice Market Review (FAMR) released on 1 August. In particular, the regulator proposed guidance should fall under the Principles of Business, the client's best interest rule, and the fair, clear and not misleading rule. This means consumers will be given access to the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS). Professional Adviser heard from three advisers who said the proposals were not welcome. ...

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

Non-financial misconduct: Is the FCA's final guidance progress or overreach?

Non-financial misconduct: Is the FCA's final guidance progress or overreach?

'The FCA's rationale is clear: workplace culture drives conduct risk'

David Hamilton
clock 26 January 2026 • 4 min read
FCA ban and £2m fine upheld against 'worst' British Steel adviser

FCA ban and £2m fine upheld against 'worst' British Steel adviser

Upper Tribunal backs regulator's findings in key BSPS misconduct case

Sahar Nazir
clock 19 January 2026 • 2 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 19 January 2026 • 1 min read