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Amid continued concerns about persistent conflicts of interest, misleading disclosure and consumer treatment, the U.K.’s Financial Conduct Authority (FCA) is launching a review of the market for financial advice.

The FCA is seeking feedback on its approach to reviewing the evolving advice market, and its major reforms designed to address regulators’ concerns in that market — the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) — to determine whether those efforts have been successful.

“The review will look at what consumers want from the market and how the market works to deliver this,” the regulator said. “It will also consider how new market trends and developments might affect the future development of advice and guidance services.”

The RDR, which took effect in 2012, increased proficiency requirements for advisors, revised disclosure rules and banned third-party commissions for advice. The FAMR was launched in 2015 to build on the work of the RDR.

In a paper calling for feedback, the FCA indicated it continues to have concerns about the market for advice in the UK, including “problems with conflicts of interest, poor treatment of consumers and misleading or confusing communications.”

“Consumers can struggle to assess the cost of advice and may overpay for services which they do not need,” it said.

Additionally, the review aims to examine the availability of useful investment advice, the development of automated advice and the impact of the U.K.’s planned withdrawal from the European Union.

“Consumers and the market are changing rapidly, as technology, employment patterns and inter-generational challenges change the way consumers interact with financial services. As well as looking at how the market has evolved since RDR and FAMR, it’s important that our work looks ahead to see how we ensure that this important sector works well in the future,” Christopher Woolard, executive director of strategy and competition at the FCA, said in a statement.

“We want the market to deliver a range of good quality, affordable advice and guidance services that meet consumer needs,” he added.

The deadline for initial feedback is June 3. The FCA said it is also planning to host public consultations and conduct additional research this year. It expects to report its conclusions in 2020.

“At that stage, we will confirm if we need to conduct further work or to consult on new rules to improve the quality of advice,” it said.