FCA Launches Review Of Financial Advice Market

Law360, London (May 1, 2019, 5:22 PM BST) -- Britain’s markets watchdog said Wednesday it was reviewing whether rules governing financial advice are working for consumers amid concerns that customers may be handing over cash to advisers for unnecessary services.

The Financial Conduct Authority is asking for input on two sets of rules — the retail distribution review and the financial advice market review — and if they need updating. The watchdog is studying whether the initiatives have been a success amid concerns that the regulatory regime may be harming consumers.

The initial FAMR was launched jointly by the FCA and HM Treasury in August 2015 with the aim of...

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