On 15 September 2021, the FCA published a Strategy and Feedback Statement on consumer investments. The statement considers consumer harm in the context of mainstream investments, higher risk investments, scams and fraud, and the redress system.
Key measures arising from the statement include the following:
- Mainstream investments – The FCA will explore regulatory changes to make it easier for firms to provide more help to consumers who want to invest in relatively straightforward products.
- Scams – The package of measures includes being more assertive and agile in how the FCA detects, disrupts, and takes action against scammers, thereby reducing investment scams.
- Appointed Representatives – The FCA plans to increase supervision activity to reduce the risk posed by Appointed Representatives. It also proposes to consult on changes to its rules to clarify expectations of Principals and ensure it can more effectively challenge Principals on their…