Amending the definition of financial advice: consultation

HM Treasury proposal, following the Financial Advice Market Review, to align the UK definition of regulated financial advice (article 53 RAO, 'advising on investments') with MiFID's narrower personal-recommendation test, so authorised firms can offer guidance without straying into regulated advice. Ran 20 September to 15 November 2016; the government adopted the change for regulated firms, keeping the wider RAO definition for unregulated firms.