Code Commitee changes criticised: 'Creating, not fixing problems'
Submissions have now closed on the exposure draft of the new version of the code.
One of the most significant proposed changes is designed to make it easier for advisers to offer limited advice.
At present, many find their compliance requirements too cumbersome to offer advice to anyone who wants less than a full financial plan.
The Code Committee has proposed replacing the "transactional advice" concept with a wider "limited advice" idea in the code, with relief from the need to assess suitability of advice when it is requested on a particular product, without a transactional element.
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