Twin peaks regulation: What it means for advisers

TWIN PEAKS REGULATION

The ‘twin peaks' regulatory regime doesn't come in next year as you may have thought, but today. So, what does it mean for advisers?

While most advisers are understandably concentrating on 1 January 2013 as the start of the new era in their industry, another (much much) closer date could be just as important. Earlier this year, it was confirmed the twin peaks regulatory regime would come into effect from today (2 April). It will mean a clear separation of prudential and conduct business units within the organisation, ahead of a complete split next year. Judging by the noises coming from Canary Wharf in recent months, it will lead to much more than just a few new business cards. In the Financial Services Authorit...