All eyes on the boundary between guidance and advice

As if the fiscal and subsequent monetary policy upheavals weren't enough excitement already in recent days, the Financial Conduct Authority (FCA) has also got in on the act, with an announcement which may lead to a significant shake-up of many regulated firms' business plans. A line in the sand One definition of a boundary is a line in the sand and when the FCA's Sarah Pritchard announced that the regulator would be carrying out a holistic review of the boundary between advice and guidance, arguably that is what she crossed. The FCA's view has until now firmly been that moving the b...