Dawn Joughin: Beware risks of online lasting powers of attorney

Increased danger of financial abuse

clock • 4 min read

The FCA has raised the possibility of LPAs being registered completely online but, hand in hand with that, warns Dawn Joughin, comes the potential for high levels of fraud and financial abuse

The relentless drive to make everything digital can sometimes go too far - and too fast. A good example comes from the Financial Conduct Authority (FCA) and a document its published last month, Occasional Paper 31. This calls for an ‘end-to-end digital system' for lasting powers of attorney (LPAs), which would allow documents to be completed and registered completely online. Online LPAs were first introduced as a service by the government in July 2013, providing an alternative to the long-established paper-based system. More than 2.6 million people have LPAs registered with the Office of...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Administrators appointed at alleged £23m unauthorised investment scheme firm

Administrators appointed at alleged £23m unauthorised investment scheme firm

FCA issued High Court proceedings against Concept Capital Group last year

Jen Frost
clock 13 March 2026 • 2 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 12 March 2026 • 1 min read
Advice firm and alternative investment fund manager declared in default

Advice firm and alternative investment fund manager declared in default

Chancery Partnership and MCI Global Investment Advisors

Jen Frost
clock 09 March 2026 • 2 min read