Between July and October 2014 we consulted on Guidance (GC14/3) on how firms should interpret the boundaries of advice. We have considered the responses and are now publishing Finalised Guidance along with a summary of the feedback received.
Our guidance helps to clarify the different types of retail investment sales models, the boundaries between them and the associated regulatory requirements. The guidance:
- Clarifies the regulatory framework in respect of different types of investments sales model.
- Provides detailed examples and our view on whether they amount to a personal recommendation or not.
- Explores specific issues in this area that our stakeholders have raised with us.