Christmas adverts and parrots: How to fix the advice gap

The regulator 'willing to listen' on advice/guidance review

clock • 4 min read

Ex-FCA man Clive Gordon, now of Sicsic Advisory, shares his insight into the regulator's advice/guidance boundary work and says it is a golden opportunity for advisers to feed into the biggest business change in a decade...

December has been a busy month for the Financial Conduct Authority (FCA), its output feeling like one of those never-ending 1980s Woolworths Christmas adverts. But the quantity hasn't diminished the quality, and among the many consumer investment-related documents was a joint HM Treasury (HMT)/FCA policy paper on closing the advice gap. The paper is the latest step in the Advice Guidance Boundary Review (AGBR) and is ‘green' in nature. Another consultation paper with firmer proposals would be needed, and possible legislative change, before we get anywhere near seeing what the end game...

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