Financial Conduct Authority  

FCA to tour UK for adviser input

FCA to tour UK for adviser input

The Financial Conduct Authority will tour the country in a series of roundtables this summer to talk to advisers about its advice market review. 

Earlier this week the regulator published a call for input on the impact of the Retail Distribution Review and the Financial Advice Market Review, asking for industry feedback on the role of regulation in the market, barriers to effective competition and the affordability of advice and guidance. 

Respondents have until June 3 to provide initial feedback, although leniency over this deadline has been hinted, with the regulator aiming to publish its final report in 2020. 

Following the initial deadline, the FCA has arranged a roadshow of seven dates on which it will tour the UK seeking input and feedback on its review of the advice market. 

The events, which are open to participants from regulated firms, will include an introductory presentation from the FCA and will be followed by small discussion groups in which the regulator hopes advisers will share feedback. 

Nisha Arora, director of consumer and retail policy at the FCA, said: "We want to hear advisers' honest views in order to create the best response and outcomes.

"We want advisers to come along to the roundtables in June and July...what we are trying to open up is a good and extensive opportunity for people to come to us with their views.

"We really want a high degree of engagement on this. This is an incredibly important area, advice and guidance is incredibly important for the industry, but also for consumers." 

The FCA will visit London on June 5, Cumbernauld on June 13, Belfast on June 18, Durham on June 27, Manchester on July 4, Bristol on July 9 and Birmingham on July 11. 

When registering for the event advisers will be required to choose two topics from a list including consumer needs, accessibility and affordability, the role of regulation and market development and trends.