ICOB rules criticised for mirroring EU Directives
The Financial Services Authority's Conduct of Business rules have been criticized for following EU Directives too closely, according to Oliver Lodge, managing director at Beachcroft Wansbroughs Consulting.
Mr Lodge argues that the requirement for brokers to provide a 'demands and needs statement' to a commercial customer, even when advice has not been provided, is "absurd", and proves that EU DirectivesOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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