The Financial Conduct Authority (FCA) is not seeking to pile more pressure on adviser firms already under financial strain by investigating payments they may receive from providers, its director responsible for supervising advisers said.
Nick Poyntz-Wright (pictured) said the regulator was aware of the "pressure some firms are under" financially, but that boards needed to be mindful of how they looked to plug gaps in their income streams. The FCA has published the findings of a thematic review into provider inducements, which found that some life insurance firms had arrangements in place which could, in the eyes of the regulator, influence advisers. It said such deals, which became more commonplace in the run-up to the introduction of new rules following the Retail Distribution Review (RDR), may not look like traditio...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
