Financial planner and consultant Phil Billingham helps cut through the noise surrounding the FCA's definition of independence and examines what the term actually means in practice...
During the past few months we have read with interest, amusement and often incredulity when we see that people continue to misunderstand the Financial Conduct Authority's (FCA's) guidelines on independence. We thought it would be useful to everyone to try to cut through all the noise and provide you with clear answers as to what exactly independence means in practice. What are the recurring issues? • People claiming that unregulated collective investment schemes (UCIS) and other non-mainstream pooled investments (NMPIs) are what's stopping them being independent. If you haven't read...
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