Mark Turner Says Financial Advisers Need Respite from New Regulation

Mark Turner, Managing Director in Duff & Phelps’ Compliance and Regulatory Consulting practice, told FT Adviser he would like to see the "burden" of incoming regulation slow down for advisers in the near future.

He said, "For advisers over the next one, two, three years I hope there will be a period of consolidation where they can make sure they really understand the impact of these regulations [MIFID and the Senior Managers and Certification Regime].

These new rules, alongside MIFID II, have been two "really big-ticket items" which have driven change in the industry and will continue to do so. "I think it’s probably fair to say that the regulators are learning as these new flagship regimes are implemented, and I think what we will see over the next couple of years is less of the really big-ticket new regulation. Brexit has been a bit of distraction for the regulator which maybe has had an unintended positive consequence of regulation slowing down a little bit." 

Watch the full interview here.

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