Advice definition is final, says Treasury

The definition of advice in the consultation draft of the Regulated Activities Order is final, says the Treasury.

Strategic or generic advice will not be regulated following the format for investment advice, and only advice on the merits of a particular mortgage will be captured.

The Treasury registers the concerns of respondents who sought greater clarity between advice and information.

It concedes that merely “matching the consumer&#39s preferences and expectations to the products available” may not be advice, but will nonetheless be caught by regulatory provisions for “arranging”.