No smoking gun
The Financial Conduct Authority has set tongues wagging again in the past week with the publication of its thematic review into conflicts of interest among intermediaries when dealing with SME business.
In short, the regulator found there were inherent conflicts and that they were not being managed properly.
In a string of findings the FCA said that firms undertaking multiple roles had increased risks of conflict, that disclosing a conflict to a customer was not enough of a solution and that having controls in place would be a better option.
Information given to customers was often seen as too generic, add-ons came under the spotlight again and the watchdog also stated that not managing
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