With great power comes great responsibility. Rowanmoor's Mark Lisle urges the FCA's Martin Wheatley to use it wisely.
On 10 April, Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), spoke on the influence behavioural economics will have upon how the FCA will improve regulation. When I came into financial services in the early 80s, the focus was on sales. There was one universal, immutable truth espoused - people buy from people. If they like you, they trust you. If they trust you, you can sell them anything you want. The outgoing regulator imposed upon the industry a set of standards for qualification that should ensure that only suitably knowledgeable intermediaries are let l...
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