The Financial Conduct Authority (FCA) has opened its consultation into simplified advice, including looking at the future of trail commission and ongoing advice charges.
As part of the consultation, the FCA confirmed it will start a "discussion" on the future of trail commission, as it looks to "modernise the rules and to prevent potential consumer harm". The regulator's simplified advice consultation follows work on targeted support, which is set to go live in April. Responses to the simplified advice consultation paper, Simplifying the Pensions and Investment Advice Rules, are due by 22 May. Firms are already able to provide simplified advice, but few offer it. The regulator is looking to "revitalise" the sector through small changes. The chan...
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