The Financial Conduct Authority (FCA) is to reassess the suitability of advice in 2019, according to its annual report and accounts.
The regulator said it would assess the suitability of advice and compare it with the results it published in May 2017 to help it identify potential trends. Last year the watchdog assessed 1,142 cases in 656 firms and said it was "disappointed" to find the advice sector provided "unacceptable disclosure" in 41.7% and "uncertain disclosure" in 5.4% of the cases it had looked at. It gave feedback to the firms that participated in the review. FCA chief Bailey's pay package nears £600k in 2018 Small independent firms fared worse in the regulator's assessment. According to the FCA, one-m...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- 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
