Financial advisers will either have to record or take notes on any phone calls with clients that are "intended to result in a transaction being undertaken", the Financial Conduct Authority (FCA) has confirmed.
In its latest Markets in Financial Instruments Directive II (MiFID II) policy statement, the regulator has allowed advice firms of all sizes to comply with its 'at least analogous rule', which would allow firms to take notes of a call rather than record it. This, it said, follows feedback arguing that "no fair distinction can be drawn between a large and a small retail financial adviser". The FCA noted some respondents said phone recording rules would be inproportionately expensive. It disagreed...
The critical illness template is broken - so start with the premise that any condition which results in an agreed outcome deserves to be paid
Closing keynote address from multi-medal winning Paralympian plus full details of conference programme revealed
Four protection distributors with 60 adviser firms join 'test and learn' process before full market roll-out in six weeks
Gary Burchett, protection director at Scottish Widows, on heart disease and the 35th anniversary of critical illness cover