Consultation · HM Treasury
Amending the definition of financial advice: consultation
Closed 15 Nov 2016
Read the official text on GOV.UK(opens in a new tab)AI-generated Summary
HM Treasury proposal, following the Financial Advice Market Review, to align the UK definition of regulated financial advice (article 53 RAO, 'advising on investments') with MiFID's narrower personal-recommendation test, so authorised firms can offer guidance without straying into regulated advice. Ran 20 September to 15 November 2016; the government adopted the change for regulated firms, keeping the wider RAO definition for unregulated firms.
Details
| Issuer | HM Treasury |
|---|---|
| Published | 20 Sept 2016 |
| Closing date | 15 Nov 2016 |
| Opened | 20 Sept 2016 |
Provisions it relates to
- Article 4 MiFID II · DefinitionsInferred · 85%
- MiFID II (whole act)Explicit reference