The Financial Conduct Authority (FCA) has published a paper clarifying its stance on how advisers will be held liable when dealing with insistent clients.
It said advisers should ensure they follow three steps when dealing with insistent clients to ensure they have satisfied regulatory requirements. The regulator technically does not recognise the term 'insistent client' and has not previously issued any rules on how advisers should deal with them. However, it said: "There is no rule to prevent advisers from transacting business against their advice if the client insists. "In practice, there may be occasions where the client wishes to take a different course of action from the one you recommend and wants you to facilitate the transac...
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