APFA calls for regulatory action to address lack of long-stop

15-year longstop trade body's 'priority'

Hannah Godfrey
clock • 2 min read

The Association of Professional Financial Advisers (APFA) has called on the regulator to review its position on a long-stop for advisers, arguing the lack of one is causing financial concerns and stress for those looking to retire.

More than four-fifths (85%) of advisers who responded to APFA's latest Cost of Regulation survey stated the lack of a longstop created concerns for their personal finances when planning retirement, while a quarter (25%) indicated they were likely to defer their retirement in order to pay for professional indemnity (PI) insurance. APFA has called on the FCA to reconsider its position on the longstop and investigate the alternative options the trade body argued "were not properly considered" in this year's Financial Market Review (FAMR). While a 15-year long-stop remains APFA's priority...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Why 'polluter pays' isn't as simple as it seems

Why 'polluter pays' isn't as simple as it seems

'If only life was that easy'

Justin Cash
clock 20 December 2024 • 4 min read
'It's just not good enough' – service continues to frustrate advisers

'It's just not good enough' – service continues to frustrate advisers

Regulation ‘not biting the real day to day grind’

Jen Frost
clock 10 December 2024 • 3 min read
Consumers invited to debate on the idea of targeted support

Consumers invited to debate on the idea of targeted support

Phoenix Insights forms panel to meet in early 2025

Isabel Baxter
clock 10 December 2024 • 2 min read