FCA tightens triage rules, bemoans lack of guidance understanding

In its policy paper PS18/20 published on Thursday (4 October), the Financial Conduct Authority (FCA) confirmed it would continue with its parameter guidance on the triage process, which means firms must not provide any kind of personalised guidance during the triage process because they risk straying into the parameters of regulated advice. After reviewing firms' triage services - whereby advisers give an initial steer to clients about a pension transfer inquiry - the FCA said it had concerns some firms were straying into the provision of personal recommendations, rather than offering ge...