Simple but demanding

Offering ‘simplified advice’ promises to be as onerous for firms as a full advice model, so many may not trouble to take it up, argue Charlotte Hill and Victoria Silver.

To contact Charlotte Hill and Victoria Silver in the financial services and regulation group at law firm Stephenson Harwood please email charlotte.hill@shlegal. com and victoria.silver@shlegal.com.

On 29 March 2012, the Financial Services Authority published its finalised guidance on simplified advice. However, far from confirming the details of an attractive and practicable model, the finalised guidance has confirmed the fears of many: the regulatory framework surrounding the simplified advice model will not be nearly as straightforward or simple as expected.