The Financial Conduct Authority (FCA) is to review the suitability of investment advice as part of its 2014-2015 supervisory work.
The regulator announced in its latest Business Plan it will "look at whether investment advisers are carrying out appropriate due diligence to ensure that consumers are sold suitable products and services". The FCA is currently reviewing industry compliance with new rules set out in the Retail Distribution Review (RDR). An assessment of investment advisers' due diligence is one of a number of projects the FCA says it will carry out in 2014-2015. These also include a look at the fair treatment of "long standing" customers in life insurance-type products, a probe which caused huge co...
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