Simon Harrington was speaking at FTAdviser’s Financial Advice Forum 2023, in conversation with Carmen Reichman, FTAdviser’s multimedia editor.
He said the announcement of the Treasury’s Financial Services and Markets Bill in 2022 marked a significant step forward in the UK government’s implementation of a post-Brexit regulatory framework.
However, he assured the audience that the advice profession did not need to fear a complete unravelling of the EU regulations that have been embedded over the past couple of decades.
He said: “There won’t be a big bonfire of the regulations. We won’t wake up tomorrow and find that we have to completely unwind Mifid.
“But we do forsee some changes around the advice/guidance boundaries.”
