In Focus: Pushing the advice boundary  

Navigating the advice-guidance boundary

  • Describe the FCA's proposals to reform the advice-guidance boundary
  • Identify the potential risks for firms
  • Communicate the difference between Fos and court decisions
CPD
Approx.30min

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The advice gap needs to be closed, but arguably more needs to be done first to encourage firms to embrace the planned changes and that means looking more carefully at the risk to firms of implementing the FCA's proposals.  

Rachael Healey is a partner and Ben Simmonds is an associate at international law firm RPC

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CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. Where does targeted support sit, according to the FCA?

  2. The FCA's proposal to clarify the advice boundary is nothing new. True or false?

  3. What is the main difference between Fos and court decisions?

  4. The FCA says it will be necessary for firms and consumers to learn to manage risk, rather than eliminate it. True or false?

  5. Which other regulation has created uncertainty for Fos decisions at present, according to the author?

  6. There is definite interest from firms in providing simplified advice, according to the author. True or false?

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  • Describe the FCA's proposals to reform the advice-guidance boundary
  • Identify the potential risks for firms
  • Communicate the difference between Fos and court decisions

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