FCA to carry out consolidation review

Sets out two-year priorities for financial advice

Sahar Nazir
clock • 3 min read

The Financial Conduct Authority (FCA) has said it will carry out a multi-firm review into consolidation of financial advice firms.

It wrote to CEOs and directors setting out its expectations of financial advisers and investment intermediaries. The FCA said in its letter that it expects firms to carry out several checks prior to consolidation. It further outlined its two-year priorities as it looks to "ensure consumers receive consistently good outcomes from a sector which is sustainable and well placed for the future" as firms grow and serve new markets. Consolidation comes into FCA focus On consolidation, Lucy Castledine, director of consumer investments, FCA said: "There has been an increase in the acquisitio...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

Labour reveals employment rights reform

Labour reveals employment rights reform

Sick pay major revamp

Cameron Roberts
clock 10 October 2024 • 3 min read
CII/PFS saga fuelled again as campaign group calls out 'questionable' actions

CII/PFS saga fuelled again as campaign group calls out 'questionable' actions

Alasdair Walker comments on the CII’s latest board overhaul

Isabel Baxter
clock 03 October 2024 • 3 min read
CII launches Consumer Duty support guide

CII launches Consumer Duty support guide

Guidance desired on reporting requirements

Jaskeet Briah
clock 25 September 2024 • 4 min read