Editor's view: Consolidators warned on debt and incentives

The regulator shared a range of areas for improvement, including on debt management, countering the risk of "disorderly failure", acquisition approach, governance and incentives. The regulator pointed to potential "client harm" from incentives that could pose a conflict of interest, for example where an individual might be "inappropriately" placed in a group product. The FCA flagged both "explicit and implicit" incentives offered by some group to invest in group products or services. This included investment products. It further outlined that while some conflict-of-interest registe...