The Financial Conduct Authority (FCA) is consulting on guidance to clarify the boundaries between different investment advice models, such as simplified, or automated, advice.
It said the guidance has been issued following "confusion" about the existing requirements amid the growth of new advice models. While firms are clear on the requirements for full advice and for execution-only business, they are struggling to navigate the options in between, such as simplified advice or limited advice services and sales without personal recommendations that involve guiding the customer in some way, the FCA said. 'Information' and 'advice' The difference between ‘information' and ‘investment advice', the regulator said, is the element of opinion or judgement on the ...
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