Gosling's Grouse: Not all hospitality is bad

FCA sharpens focus on adviser hospitality

The 'lazy compliance' of the current inducement/entertaining regime continues, with some companies reaching new lows.

This expression 'lazy' is not mine but comes from someone who is currently spending more time filling in forms than the actual length of the 'hospitality' to which they are being invited. It is lazy because it is easier for a compliance department to say 'no' than think through the real benefits of clients attending an event or meeting. I recently bumped into one of the sales team of a thoroughly responsible asset manager, who I suspect has never pushed the limits of hospitality in its long history. We exchanged pleasantries and I asked where he had been: "Breakfast with a client," he...