Insurers Urge UK Gov't To Change Definition Of 'Advice'

By Najiyya Budaly (September 30, 2021, 1:55 PM BST) -- Insurers have called on the government to amend rules on advice so that financial services companies can give investors and retirement savers better guidance on the consequences of their investment decisions.

The Association of British Insurers called on HM Treasury on Wednesday to amend the definition of advice under the Regulated Activity Order, which governs which financial services are regulated. The trade group said the government department should create a new regulated activity that allows investment platforms and pension providers to give more personalized guidance to investors.

The definition of regulated financial advice is enshrined in statute that transferred Europe's updated...

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