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

FCA consolidation review 'a warning shot' for acquirers

FCA consolidation review 'a warning shot' for acquirers

Regulator’s findings a ‘wake-up call’ for private equity and consolidators

Sahar Nazir
clock 05 November 2025 • 5 min read
Expanded AML remit for the FCA: a good or bad thing?

Expanded AML remit for the FCA: a good or bad thing?

'Lots of issues to work through' before changes come into force

Colette Best
clock 05 November 2025 • 3 min read
The FCA's consolidator review was long overdue, but nowhere near enough

The FCA's consolidator review was long overdue, but nowhere near enough

That it took the FCA so long to launch a review 'still seems a mystery'

Justin Cash
clock 04 November 2025 • 4 min read