FCA splits advice from guidance in new complaints rules

The regulator used to categorise complaints against financial services firms under 'misleading advice/guidance', 'arranging', or 'inappropriate sales technique'. But in an update published on 23 July, it said it would now categorise relevant gripes as either 'unsuitable advice' or 'unclear guidance/arrangement'. The distinction will give the regulator a clearer idea of how many complaints were made specifically about regulated financial advice, and how many related to 'guidance', it said. It said it had received feedback pointing out the original wording was misleading. Use of t...