Advisers grapple with escalating regulatory pressure

This week's results showed that the overwhelming sentiment among respondents is that regulation continues to be the biggest hurdle. The Financial Conduct Authority (FCA) and its Consumer Duty requirements were frequently cited as sources of frustration. Respondents said regulation will be the biggest challenge for the industry this year. "Trying to provide advice for the man in the street is becoming impossible due to the rise in our operating costs," lamented one industry professional. Another respondent said they expect to cope with "the ever time consuming and hence costly regul...