The Personal Finance Society is asking the regulator to extend the deadline for its adviser directory in a softening of Senior Managers and Certification Regime (SM&CR) rules, but advisers seem to be rejecting this call.
The professional body outlined its requests to the Financial Conduct Authority (FCA) and HM Treasury on Thursday morning (26 March) in light of the coronavirus pandemic. The Personal Finance Society (PFS) has asked the regulator to push back its deadline for registering advisers on its new directory from this December (2020) to December 2021. Rowley Turton director and Chartered financial planner Scott Gallacher questioned the logic of the FCA's current register, which came into force under SM&CR and only allows people to verify key manager rather than induvial advisers. He said he...
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