The Financial Conduct Authority (FCA) is "well behind the curve" on pensions freedom regulation and is operating a watching brief to act after things go wrong, Bruce Moss has said.
Simplified advice propositions should include hurdle questions to prevent certain types of client from entering the system, according to a lawyer turned adviser.
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Financial Conduct Authority (FCA) technical specialist Rory Percival today warned advisers they may be "flipping a coin" as to the suitability of their recommendations if they fail to personalise advice when using centralised investment propositions (CIPs)....
The arrival of RDR has focused attention on "direct to consumer" propositions but regulatory uncertainty is holding back developments which could be beneficial to consumers, says Bruce Moss.
Financial services industry players have voiced their frustrations about the regulator's lack of clarity in the direct to consumer (D2C) and simplified advice space, saying it is hampering innovation and preventing them from bridging the advice gap.