There are two occasions when journalists in this office are taught to be especially alert for negative news. One is Budget day; the other is Friday. Any Friday.
After all, when the eyes of the world are on the Chancellor of the Exchequer, or everyone's taking an extended lunch, a spot of bad news might get overlooked. So I found it odd that the FCA selected a Friday to put out what was almost unanimously regarded as positive news: a two-year deferral of when personal investment firms (PIFs) have to comply with its new capital rules. More than that, the regulator's statement implied that it could scrap the requirements as they stand altogether. That's a Monday, 10am story. The development wasn't exactly a bolt from the blue because the regu...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
