The UK Financial Conduct Authority (FCA) has announced the conclusion of its six-week policy sprint aimed at improving consumer investment decisions to support its key objective of supporting growth. With only 9% of UK consumers taking regulated financial advice last year, the sprint focused on developing targeted support to bridge the gap between bespoke financial advice and guidance. For the first time, the sprint tested future rules before formal consultation involving industry, consumer groups and other members of the regulatory family, such as the Financial Ombudsman Service and the Information Commissioner's Office, with its aim to accelerate final policy proposals by June. The sprint is part of the work being carried out in relation to the Advice Guidance Boundary Review and other initiatives aiming to change how consumers interact with retail investments.
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