APFA demands more product provider responsibility


The Association of Professional Financial Advisers (APFA) is calling for more product manufacturer responsibility when marketing materials are relied on by investors and advisers.

The trade body said the incoming Financial Conduct Authority (FCA) must ensure its rules, as well as those of the Financial Services Compensation Scheme (FSCS), more closely resemble European regulation such as PRIPs, where Article 11 places explicit responsibility on the manufacturers for product marketing materials. This, it said, would mean cases such as Keydata and Arch cru, "where misleading marketing material was a significant contributing factor to investors' losses", are avoided in the future. "We accept that financial advisers should only recommend properly-researched and sui...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Wealth managers