The incoming Consumer Duty rules will weed out the remaining “bad advisers” that operate in the UK market who continue to push high-risk investments to consumers, according to the Financial Conduct Authority (FCA).
Speaking at the Personal Finance Society (PFS) Festival of Financial Planning 2022 in Birmingham today (1 November), FCA director of consumer investments Therese Chambers said the Consumer Duty was a "pivotal moment" for both financial services and the regulator. Chambers said: "People are more than ever making complex decisions about their money. The choice of products has increased simultaneously. "Advisers have a vital role to play to help consumers navigate choppy waters while steering a safe passage past financially unsuitable investments." However, Chambers added that 5.7 mil...
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