Law360, London (September 15, 2020, 2:18 PM BST) -- The U.K.'s finance watchdog said Tuesday it is planning to overhaul its regulatory regime for consumer investments after a spate of scandals and investment scams that have left consumers with lower returns and higher fees.
The Financial Conduct Authority has asked the finance sector for feedback on how to reform its consumer investment rules to better protect average consumers from scams and unscrupulous financial advisers.
"The consumer investment market is not working as well as it should," said Christopher Woolard, the FCA's interim chief executive. "There have been too many scams and scandals and too often consumers are offered unsuitable products or...
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