FCA rejects calls for more guidance on inducement rules

The FCA has said it will not issue further guidance on inducements, despite growing calls to do so from fund groups.

The FCA told Investment Week it will not revise finalised guidance issued in January, rejecting efforts from the IMA to provide its members with more clarity around what is acceptable. The IMA had opened a formal consultation with members in response to January’s 18-page document covering the FCA’s stance on inducements. The document outlined a number of practices it wants to see quashed as it continues the work the FCA started with the RDR. The IMA, however, wanted more specific examples of acceptable practice over members’ policies, including topics such as training, hospitality,...