In his first column for Professional Adviser and IFAonline.co.uk, Panacea Adviser CEO Derek Bradley calls for plain speaking and common sense from the new financial services regulator.
Apparently, "behavioural biases can render regulatory interventions aimed at addressing information asymmetries harmful". This less-than-plain-English comment was made by the Financial Conduct Authority (FCA) in regard to evidence that "extra information may lead consumers to make poorer decisions by distracting them or making them under- or over-react to emotionally charged topics like financial advisers' conflicts of interest". So, with the arrival of the FCA, we now hear there is a possibility that the large amount of information produced regarding products and advice could lead to...
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