Good job I’m not a conspiracy theorist. I might otherwise be saying that our regulator would prefer to regulate fewer, bigger companies, rather than having to keep tabs on thousands of smaller firms of advisers. So pushing up the amount of dead cash we have to keep, in case we have to compensate someone, would be a way to drive many of those, either out of business, or into the arms of those bigger companies. The irony, of course, is that those who really need to compensate their clients go belly up long before they have to pay out. Anyway. Just another silly conspiracy theory, I’m sure.
“Advisers fearful of further compliance and regulation”
We know, of course we know, that regulation is, or at least should be a ‘good thing’. If those who need or should seek advice can be confident that they’ll be told the right thing, that someone has looked at those ’too good to be true’ investments before they’re allowed to take your money; or, in the case of a Woodford, while they’re raking it in to make sure it’s going where it’s supposed to.
