Is it the right time for a fiduciary duty?

Too much emphasis is being placed on how we can continue to sell financial products to Europe once we leave the EU, rather than the more important question of whether the products promoted are any good.

In particular, those that are likely to be of interest to high-net-worth private investors. The financial crisis is already a distant memory for many, but regulatory reform is a slow moving beast. As momentum slows, the question needs to be asked whether the needs of investors are going to be neglected in light of a regulatory focus on the passporting of authorised products. We have seen a tide of regulation on the badging of authorised products: requiring disclosure and transparency; enforcing responsible business conduct of financial service providers and their authorised agents;...