The Financial Conduct Authority (FCA) will “review” the regulatory approach to ongoing services, according to an update from the financial services watchdog.
The FCA is set to "engage with the sector" in 2025 on potential rule changes, it confirmed this morning (24 February, 2025). The move comes as the FCA has found that financial advisers are delivering suitability reviews in the "vast majority" of cases. The regulator looked at data from 22 of the largest advice firms, finding that suitability reviews were delivered in about 83% of cases. In a further 15% of cases, the regulator was informed that clients had either declined or not responded to the review offer. This meant that there were fewer than 2% of cases in which firms admitted...
To continue reading this article...
Join COVER for free
Signup and gain exclusive members-only insights
- 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.
