Given this, the time is surely coming for the FCA to look again at the ban, so as to devise a regime with products exhibiting similar risks being treated in ways that more closely resemble each other.
The work the FCA has done on financial promotions shows that it is possible to develop alternative approaches that do not prevent retail client investment but which add controls and safeguards and give investors a chance to reflect on their decisions.
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Brett Hillis is a partner at Reed Smith
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