Regulation

IFAonline is often tickled by some of the comments left by readers at the bottom of stories. But this one just HAD to be shared…

Advisers must "wake up" and address changes being brought in by the RDR, as last week's paper represents the FSA's "point of no return", says the Personal Finance Society (PFS).

The FSA is open to the possibility of spreading adviser remuneration transparency across the board but doesn't believe it would be a popular move.

The FSA's u-turn on forcing restricted advisers to disclose their non-independence using a fixed set of words is a "total cop-out" and not in the best interests of customers, says SIFA.

The FSA says although it has "mixed views" on the question of whether an adviser can be independent using just one platform, it is likely to push for IFAs to adopt multiple platform use.

Platforms will not be forced to offer a wider range of investments - some of which may be unsuitable and pose a high-risk, the FSA said today.

Mortgage brokers could be dragged into the disclosure of adviser remuneration proposed by the FSA.

The FSA has slammed platforms for poor levels of disclosure in documentation and for failing to highlight the risks of investment.

The latest instalment of the FSA's RDR proposals was unveiled today, and recommends that, while there is nothing technically wrong with commission, only the purest of the pure advisers should still be allowed to call themselves ‘independent'.

The FSA has sent out a warning shot for platforms part-owned by fund managers and adviser firms, insisting any conflicts of interest must be clearly disclosed.