The Financial Conduct Authority (FCA) is consulting on the boundaries between advice and guidance after it found execution-only services have strayed into giving advice.
The regulator said its research has shown there has been a small shift from advised services to non-advised services but a "greater move from channels not involving a personal recommendation to those that did." It is now consulting on its guidance and has published a range of possible scenarios to help firms understand what it believes is advice and what is guidance - and to see if firms agree with its definitions. Guidance: 1) Websites without filtering, which provide "general generic information". This involves firms that provide investment information on their websites, for ins...
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