‘The Financial Conduct Authority may be adopting a lighter regulatory touch’… let’s let that sink in.
This comment is so far from what most advisers would ever believe the regulator is doing, yet it was probably a pretty fair observation this week from Reed Smith in light of new information. A Freedom of Information request from the law firm came back this week confirming there has been a decline in watchdog enforcement activity against both firms and individuals in the last financial year. I'm going to optimistically put that down to an uptick in good behaviour that has been encouraged (intimidated?!) by the regulator's arresting communications on its planned supervision of everyone post 3...
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