FCA questions 45 advisers about ongoing charges disclosure

Follows May's suitability review

Victoria McKeever
clock • 1 min read

The Financial Conduct Authority (FCA) has requested further information from 45 advice firms about their ongoing services and charges, following its suitability review in May.

The regulator sent requests to a mixture of independent and restricted firms. It said the information would be used as part of a general supervision exercise, to decide if further action on disclosure would be needed in the future. In May, the FCA's suitability review found 41.7% of firms provided "unacceptable disclosure", while a further 5.4% of firms provided "uncertain disclosure". The FCA said it was "disappointed" by the results of the review, in which it assessed 1,142 cases in 656 firms. Small independent firms fared worst in its assessment, as the regulator reported one-ma...

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