New code's wider scope helps advisers: Chairman
Angus Dale-Jones said the working group was preparing to take questions to focus groups as the next part of its consultation process.
He said it was an opportunity to bring a consensus to the way the financial advice sector worked.
At the moment, no matter how regulated and well-performing AFAs were, they could have their reputation besmirched by other, less regulated parts of the industry. The existing code only applies to AFAs.
The new code will set minimum standards of general competence, knowledge and skills across the sector; minimum standards of particular competence, knowledge and skills that will apply in respect of different types of financial advice, financial advice products, or other circumstances; minimum standards of ethical behaviour, conduct and client care; and minimum requirements of continuing training for those involved in giving financial advice.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
