Financial advisers once again collateral in regulatory overreaction
The government’s “response to PwC” by legislating eight new ethical obligations for tax advisers has been another example of collective punishment for minnows in the professional services sector due to the sins of the top end of town, Tom Ravlic writes. The government can’t expect smaller financial advice practices that offer tax advice to take ownership of new regulations targeted at the wrongdoing conducted by big accounting firms.
Analysis