Commission-to ban or not to ban?

IFAonline has received an unprecedented number of responses on the issue from advisers; the majority of whom are extremely concerned about the implications for their business if commission is scrapped. But why have the FSCP and Towry Law come out so strongly in favour of a commission ban? One of the main reasons put forward by the FSCP is that commission-based business models are not compatible with FSA principles on TCF. It says advisers are far more likely to sell products which pay a high level of commission rather than providing their customers with the most suitable products to meet...