Wealth management trade association PIMFA has criticised the Financial Conduct Authority’s (FCA’s) latest piece of work for being “very light on action”.

The FCA’s latest report deals with the regulatory “perimeter” – essentially which matters fall inside its purview – and looks at how big tech firms like Google can do more to protect consumers in areas on the edge of this perimeter, when it comes to matters like misleading financial advertisements.

The report ...