Wealth management firms say they are being "crippled" by suitability requirements as the Financial Conduct Authority (FCA) increases its scrutiny of the sector.
Under existing FCA rules, firms have to provide suitability reports to every retail client to whom they make a personal recommendation. A number of firms have gone further, instigating suitability reviews...
Negotiations had stalled recently
As January 2018 deadline looms
Number of groups making announcements this week
Natixis also linked
More focus on global equities