The FCA’s move to cancel its second suitability review, already delayed for more than a year, has been welcomed by advisers as a sign of the regulator realigning its priorities.
In an update published on Friday (16 July) on its website, the FCA confirmed it had decided "not continue work" on its second advice suitability review, also known as ASR 2. That statement continued: "This allows us to focus on other priority work, including defined benefit pension transfers work and the issues raised in the 2020 consumer investments Call for Input. "We will continue to monitor the market, and where we identify concerns will consider whether additional work is needed." In its original review into advice suitability, ASR 1, published in 2017, it was found that generall...
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