Regulation

FCA moves to axe rules for professional clients

Wealthy investors will be able to opt out of some of the watchdog’s rules as it attempts to draw a line between sophisticated individuals and the mass market

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The FCA hopes to boost UK investment culture through changes to how firms categorise clients Photo: Hollie Adams/Getty Images

More professional investors will be allowed to opt out of flagship Financial Conduct Authority rules such as the Consumer Duty under plans proposed by the watchdog.

The FCA said it wants to let firms work “confidently” with clients that “truly don’t need retail protections”.

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