The Financial Conduct Authority (FCA) and HM Treasury have set out three proposals as part of their joint advice/guidance boundary review including a new form of simplified advice for consumers.
Published today (8 December), one of the proposals is further clarifying when firms can give consumers support without giving regulated financial advice. The ‘further clarifying the boundary' proposal intends to explore whether further guidance or simplifying existing guidance would help firms provide consumers with greater levels of support by giving them more confidence to operate closer to the boundary. Another is the ‘targeted support' proposal, allowing firms to provide support tailored to groups of people in similar circumstances and enable firms to broaden the support they can ...
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