Liz Coyle assesses the FCA's tougher stance on financial product 'add-ons'...
The Financial Conduct Authority (FCA) has now finalised its rules to ban opt-out selling across financial markets and set them out in PS15/22. There are rule changes in COBS, ICOBS, MCOB, BCOBS and CONC as well as handbook and non-handbook guidance. The new rules come into force on 1 April 2016, and the handbook guidance at the same time. The non-handbook guidance is effective immediately, with an expectation that firms will have made the necessary changes to their sales process by the 30 September 2016. Add-ons are evident in all financial markets As a bit of history to thi...
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