FCA's advice/guidance review: 'Boundaries must not be blurred'

‘It is vital that financial advice is not diluted’

Isabel Baxter
clock • 5 min read

Advisers have given a positive response to the Financial Conduct Authority and HM Treasury’s advice/guidance review released on Friday (8 December), but some have noted that the lines between regulated advice and guidance must not be blurred.

The three proposals included further clarifying the boundary, targeted support, and simplified advice. The FCA noted that the proposals were high-level at this stage, not definitive and reflected early thinking. The regulator said they would evolve based on stakeholder feedback and further engagement. The watchdog also said it wanted to discuss the defining features of the proposals and how each would meet consumer needs and firms' ability to deliver services under each proposal, including taking advantage of the opportunity provided by new technologies. The FCA added that it was a...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

Industry reacts: FCA Pure Protection Market Study update

Industry reacts: FCA Pure Protection Market Study update

Commission, competition and customers

Jaskeet Briah
clock 21 March 2025 • 6 min read
FCA updates terms of reference for Pure Protection Market Study

FCA updates terms of reference for Pure Protection Market Study

Interim report to be published in Q4 2025

Cameron Roberts
clock 21 March 2025 • 4 min read
IPT hits £8.8bn in 24/25

IPT hits £8.8bn in 24/25

£1.3bn in February 2025

Jaskeet Briah
clock 21 March 2025 • 1 min read