Syedur Rahman | 9 September 2024
Share on:
Contact The Author >
Syed Rahman has voiced concern about how the Financial Conduct Authority (FCA) will enforce new guidelines for promoting complex digital financial products.
When asked by Law360 about the latest FCA advice, Syed focused on the watchdog’s expectation that crypto-businesses will use the required "appropriateness assessment" to ensure products are right for consumers.
He said:"This is effectively stretching firms to provide quasi-investment advice based on the appropriateness of crypto-assets under the guise of a self-assessment by the consumer."
“This is not the purpose of these firms. They are not financial advisers, but simply provide the services and facilities to allow individuals to make the investment."
He added that the approach will make investing in crypto “more onerous’’ and will discourage consumers, which “seems to go against the intentions of the FCA to promote growth.’’
The full article can be read here (subscription required).
Featured at: Law360
+44 (0)203 910 4566 vCard
