PIMFA’s Advice/Guidance Working Group As you will be aware, the government has committed to look at the boundary between regulated financial advice and guidance as part of its wider package of measures outlined in the Edinburgh Reforms. We are supportive of such a review and consider that there are clear areas where firms could benefit from greater clarity on what constitutes guidance without necessarily straying into the provision of regulated financial advice. We consider it incumbent as an organisation to define what a good outcome for the industry would be with respect to any recalibration of the boundary and are therefore inviting firms from across the membership to participate in a newlylaunched working group to help us come to an industry wide position. Firms who would be interested in participating in this working group should contact Simon Harrington.
PIMFA responds to the FCA’s CP22/24 on “Broadening access to investment through the provision of core investment advice”
We have previously set out proposals for a Simplified Advice regime and are committed to the success of the FCA’s proposals. However, we remain concerned about the commercial viability of the proposals as currently envisaged. Please refer to the press release which contains a summary of our response, and the CP response in full.