The Financial Conduct Authority (FCA) is set to review advisers' capital requirements in the coming months, the regulator revealed in a discussion paper reviewing the Financial Services Compensation Scheme (FSCS).
The FCA is exploring the fairness of FSCS levies and how it should be funded in a bid to ensure the framework remains appropriate and proportionate in order to benefit all market participants. Looking into the root causes of high FSCS levies, the FCA said that it will also review its prudential regime for non-MiFID investment firms, such as financial advisers, as part of its Consumer Investments Strategy "in the coming months". This review will take into account the prudential regime, which includes advice businesses, and combines requirements relating to firms' financial resources wi...
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