FCA to conduct 'holistic review' of the advice and guidance boundary

FCA executive director of markets Sarah Pritchard pointed to the many ways the FCA is adapting to prepare for economic growth, including the ability to do more once the Future Regulatory Framework (FRF) becomes law. "One area we are looking at transforming is the advice and guidance rules," said Pritchard, pointing to the "bewilderingly large choice" of investments mass market consumers are left to choose from without access to advice. Advice comes with a "heavy regulatory burden" said Pritchard, who added, that "because of the costs involved, only the relatively well-off can access a...