Advice/guidance review may trigger regulatory framework overhaul

The advice/guidance boundary review is centred on four key consumer harms

Sahar Nazir
clock • 1 min read

The review of the advice/guidance boundary “may lead to a wholesale restructuring of the regulatory framework” according to the Financial Conduct Authority (FCA).

Speaking yesterday (21 September) at the Personal Investment Management & Financial Advice Association's Compliance Conference 2023, director of consumer investments Lucy Castledine told delegates that the review could lead to a fundamental overhaul of advice in the UK. She said previous approaches in this area had been limited by the European Union regulations but that now the FCA had "greater flexibility in terms of its rule-making powers". The advice/guidance review would seek to ensure that consumers "get the help they want, at the time they need it and at a cost that is affordabl...

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 Your profession

AJ Bell calls on govt to merge cash and stocks and shares ISAs

AJ Bell calls on govt to merge cash and stocks and shares ISAs

The merger would be the first step in achieving a single ‘One ISA' regime

Valeria Martinez
clock 15 July 2024 • 2 min read
Premier Miton confirms MPS launch timeline

Premier Miton confirms MPS launch timeline

Group also reported AUM up 8% since opening position

Jen Frost
clock 15 July 2024 • 2 min read
Advisers urged to keep client communications simple and intuitive

Advisers urged to keep client communications simple and intuitive

‘This becomes more important over time as their life changes’

Isabel Baxter
clock 15 July 2024 • 1 min read