'Core advice' plans on hold in FCA advice/guidance review

Review is aimed at helping consumers make ‘better financial decisions’

Sahar Nazir
clock • 2 min read

The Financial Conduct Authority’s (FCA) ’core advice’ regime has been paused and rolled into a wider review of the boundary between advice and guidance.

The regulator said its advice/guidance boundary review, in collaboration with HM Treasury, aims to provide "greater confidence" for consumers to invest and ensure that consumers make informed financial decisions. It also underscores the role of the Consumer Duty in setting forth clear expectations for firms' customer support. The Financial Ombudsman Service is also poised to play a role in this collaboration. The core investment advice regime, introduced in the Consumer Investments Strategy of 2021, is incorporated into the review's purview. The FCA said it acknowledges the need for c...

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