"Independence is a state of mind - you just need to keep an open mind and consider all the options", the Financial Conduct Authority (FCA) said as it summed up the findings of its latest post-Retail Distribution Review (RDR) research.
The regulator has published the first part of stage two of its thematic work into the Retail Distribution Review (RDR), saying most IFA firms were now compliant but some were still not sticking to its rules on independence. Here is a round up of the good and bad practice the FCA found in firms during its investigation, broken down by areas of concern. Providing advice on all retail investment products (RIPs) The FCA reiterated it required IFAs to be "prepared, willing and able" to provide advice on all types of retail investment products (RIP) that may be suitable for their clie...
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