As regulation grows ever tighter, financial advisers will need to become better at being able to prove their decisions were the correct ones and, argues Simon Binney, this is where automation will help
It is an understatement to say that regulation is now at the heart of the financial sector. Since the 2008 financial crisis, we have seen the adoption of new regulatory requirements in a bid to strengthen the sector itself, protect individuals, and mitigate the potential for any crisis in the future. One of the key changes in the advice sector was the Retail Distribution Review (RDR). This saw a ban on incentive-driven sales paid for by commission and destroyed the advice model used by the high street banks, which saw the banks then leave the sector in droves. While this crackdown on poo...
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