FCA plans 'new form of simplified advice' in advice/guidance review

Three proposals set as part of major review

Isabel Baxter
clock • 4 min read

The Financial Conduct Authority (FCA) and HM Treasury have set out three proposals as part of their joint advice/guidance boundary review, including a new form of simplified advice for consumers.

Published today (8 December), one of the proposals is further clarifying when firms can give consumers support without giving regulated financial advice. The ‘further clarifying the boundary' proposal intends to explore whether further guidance or simplifying existing guidance would help firms provide consumers with greater levels of support by giving them more confidence to operate closer to the boundary. Another is the ‘targeted support' proposal, allowing firms to provide support tailored to groups of people in similar circumstances and enable firms to broaden the support they can ...

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 Adviser / Broking

The psychology of insurance

The psychology of insurance

Understanding decision-making

Jaskeet Briah
clock 23 April 2024 • 5 min read
SimplyBiz pens partnership for advisers to tackle climate change

SimplyBiz pens partnership for advisers to tackle climate change

Net Zero Financial Adviser Protocol now available to members

Jaskeet Briah
clock 22 April 2024 • 1 min read
Rosemount appoints Contractor Financial as AR

Rosemount appoints Contractor Financial as AR

Advice for contractors and the self-employed

Jaskeet Briah
clock 19 April 2024 • 1 min read