The Law Society of England and Wales (the Law Society) has published its response to HM Treasury’s September 2016 consultation on amending the definition of financial advice. The Law Society calls for reconsideration of the regulatory perimeter under the Financial Services and Markets Act 2000. The comments relate to the revision of the definition of “ a personal recommendation”. The Law Society considers that legislative changes that will be necessary to implement Brexit provide an opportunity to re-consider this legislative approach.
View Law Society calls for post-Brexit simplification of FSMA regulatory perimeter, 10 January 2017