It would appear we are well and truly into Consultation Paper Season with no less than a dozen either released last month or are known to be on their way.

CP21/13 is a little different to the others in that it currently feels like the re-working of some previous attempts to tighten up on the rules around TCF and to make them easier for firms and customers to understand. 

The concern that seems to be around in the market is that whilst the intentions are great, the actual impact of this amongst the wider advice community may not really be felt as most firms are already on track with this in terms of client outcomes and fair treatment of customers. What it is unlikely to be able to tackle are the rogue advisers who are currently ignoring the rules and are likely to continue to ignore the new ones. 

Read more in our Nucleus article here.