FCA compromise on 10% drop notifications contains 'unnecessary' catch

Advisers critical

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Rory Percival: "I think it's an uneccessary deferral of the relaxation."
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Rory Percival: "I think it's an uneccessary deferral of the relaxation."

Advisers have welcomed the Financial Conduct Authority’s (FCA) temporary softening of 10% drop notifications, but believe the requirement for notices each quarter was unnecessary.

Upon reading the FCA's latest Dear CEO letter, in which the regulator said it would temporarily soften its stance on 10% portfolio drop notifications, former FCA man turned consultant Rory Percival...

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