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Regulator asked to report on how well rules are working

Charging structure overhaul ‘proves’ otherwise, he says

Wave of City reforms

Reduced from six to four months for complete applications

Follows joint call for input and government proposals

New fee model removes early withdrawal charges and introduces tiered advice rates

National IFA sees assets rise to £2.6bn

Will track the Bank of England’s base (average) rate +1%

Chancellor expected to address limit

Part of FCA policy to promote growth