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FCA finalises perimeter guidance on personal recommendations

FCA has published a policy statement setting out its feedback on what is a “personal recommendation” in relation to retail investments, as part of its work on the FAMR. The new guidance, which will be in PERG, is aimed in part at reassuring firms that there is information they can give clients, and can even warn them of potential adverse consequences of a transaction or offer products that meet a stated aim, without necessarily making a personal recommendation.  The new guidance includes a table giving examples of what may, or may not, constitute a personal recommendation or regulated advice.

Emma Radmore