44% of advisers believe profitability will decline as a result of the Consumer Duty.
All Regulation Stories
57% of advisers have made changes to the way they approach protection as a result of Consumer Duty.
Firms can apply from the banking, investment, lending, payments, insurance and pensions sectors.
There are currently around 35,000 ARs, including introducer ARs, operating in the AR regime, down from 43,000 in 2020.
The changes aim to help advisers in managing any additional needs their clients may have.
The regulator noted the increase in notoriety of ‘finfluencers’ and the potential for consumer harm taking place online.
The NAO says technological innovations such as cryptoassets and artificial intelligence "provide challenges and opportunities for regulation of financial services".
For cases opened against firms, the largest proportion was for unauthorised collective investment schemes.
FCA bans Paul Steel for unsuitable defined benefit transfer advice with £850,000 to be paid in redress.bri
79% of over-45s are unaware of the Consumer Duty and 38% are unaware of the role of the FCA.
While this website is checked for accuracy, Barcadia Media Limited are not liable for any incorrect information included. We recommend that you make enquiries based on your own circumstances.
Barcadia Media Ltd, 14 Edward Street, Blackpool, Lancashire , FY1 1BA. Data Protection Notification No: Z162 1548.