FCA targets investment harm with consumer investment strategy

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Financial services expert Elizabeth Budd of Pinsent Masons, the law firm behind Out-Law, said the strategy built on previous FCA initiatives, including the financial advice market review, work on the fair treatment of vulnerable customers, the proposed consumer duty and this year’s Business Plan. 

“While this might be seen as yet more regulation or regulatory action against firms, in fact it has potential to be a win-win proposal. If firms are able to introduce the rigour around investment advice and clarity and appropriateness of products for potential customers, their upside will be to see less poor advice, fewer firms failing, a reduction in overall contributions to the compensation scheme and the potential for professional indemnity insurance to be more affordable and available,” Budd said.

Financial services expert Charlotte Pope-Williams of Pinsent Masons said: “Not only is this a material development in terms of…

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