FCA takes aim at wealth managers over high-risk and high-fee products

Cristian Angeloni
clock • 3 min read

The UK's Financial Conduct Authority has slammed wealth management and stockbroking firms over practices that the regulator claims have resulted in harm for consumers. In a 'Dear CEO letter' published on 8 November, the regulator said some companies have lost consumers "significant sums" to scams and fraud, and have also played a role in enabling money laundering. The FCA added that some firms have also exposed consumers to "inappropriately high-risk investments" and provided poor value for products and services. It highlighted the scale of the sector within the consumer space, wit...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?


Cristian Angeloni
Author spotlight

Cristian Angeloni

Senior Reporter at Investment Week