The Financial Conduct Authority (FCA) will “review” the regulatory approach to ongoing services, according to an update from the financial services watchdog.
The FCA is set to "engage with the sector" in 2025 on potential rule changes, it confirmed this morning (24 February). The move comes as the FCA has found that financial advisers are delivering suitability reviews in the "vast majority" of cases. The regulator looked at data from 22 of the largest advice firms, finding that suitability reviews were delivered in about 83% of cases. In a further 15% of cases, the regulator was informed that clients had either declined or not responded to the review offer. This meant that there were fewer than 2% of cases in which firms admitted to ha...
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