The boundary between advice and guidance must be reformed to allow providers to give people more “reassurance” on their investment decisions, according to the Association of British Insurers (ABI).
The trade body called on the government to reform MiFID II regulation in its review of the wholesale and retail investment market. It said changes would enable do-it-yourself investors and pension savers to get better financial guidance from their provider, "so they can be more informed and reassured about their investment decisions". MiFID II (Markets in Financial Instruments Directive) forms the cornerstone of the EU's regulation of financial markets. It was transferred to the UK statute book when the UK left the EU. The ABI explained that the government is currently considering ...
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