In August 2017 The Financial Conduct Authority (the “FCA”) published proposals to implement recommendations made by the Financial Advice Market Review (FAMR), specifically to:

  • Handbook changes arising from recent amendments to the definition of advice on investments in the Regulated Activities Order (the RAO amendment)
  • Guidance arising from experiences of the FCA’s Advice Unit
  • Guidance on personal recommendations
  • New Guidance on insistent clients designed to address concerns raised by firms. 

The Policy Statement (PS) summarises the feedback they received in relation to the Handbook changes, the Guidance developed by the Advice Unit and the Guidance on insistent clients. The FCA expects to publish the final Handbook rules and Guidance and non-Handbook guidance which will take effect from 3 January 2018.

Read the FCA’s consultation paper