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

Abuse victims must not be 'blocked' from redress, group urges

Abuse victims must not be 'blocked' from redress, group urges

In response to FCA and FOS consultation paper

Jen Frost
clock 12 May 2026 • 3 min read
FCA receives 210 whistleblower complaints over Consumer Duty in Q1

FCA receives 210 whistleblower complaints over Consumer Duty in Q1

Closed 265 whistleblowing cases between January and March

Michael Nelson
clock 11 May 2026 • 2 min read
Ex-investment adviser sentenced to additional prison time

Ex-investment adviser sentenced to additional prison time

Richard Faithfull failed to pay back £529,961

Sophia Panayi
clock 11 May 2026 • 2 min read