Advisers welcome cancelled suitability review

First suitability review came in 2017

clock • 4 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA data information request: Four focus areas for advisers

FCA data information request: Four focus areas for advisers

‘Data is not just a compliance tool it’s a strategic asset’

Chris Davies
clock 07 July 2025 • 5 min read
FCA to extend bullying and harassment rules to non-banks

FCA to extend bullying and harassment rules to non-banks

Extension will apply to 37,000 firms

Cristian Angeloni
clock 02 July 2025 • 2 min read
Regulatory necessity: Why data is no longer a 'nice to have'

Regulatory necessity: Why data is no longer a 'nice to have'

Client-led, data-driven

Paul Bruns
clock 01 July 2025 • 5 min read