Bringing you live news and features since 2006 

FAMR recommendations not revolutionary

RELATED TOPICS​

David Kenmir (pictured), financial services risk and regulation partner at PwC, comments in response to the FCA's recommendations from the Financial Advice Market Review (FAMR)…

The Treasury and FCA have jointly been looking at whether changes should be introduced to help customers access financial advice and support more easily and cheaply.

Today's recommendations aren't revolutionary – and that's probably a good thing. Instead, the review has suggested a series of subtle changes that, taken together, could help nascent guidance and advice service models to flourish.

The changes that stand out include a simpler, narrower definition of regulated advice, more guidance for firms on advice and guidance, and an extension of the FCA's "innovation hub" focused on robo-advice and similar models. There is no unwinding of the Retail Distribution Review and rumours the review would scrap the commission ban were false. The review has also rejected the idea of a 15 year "long stop", meaning customers can seek compensation from firms for poor advice however long ago they received that advice.

At this stage, they're all just recommendations. We'll need to see how exactly the government and FCA take this forward. But the signs are positive and I'd expect to see more "robo-advice" and other innovative services really begin to take hold over the coming year.

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by