Last chance saloon for independence

It is hard to read CP166 without imagining the look of disdain on the face of the author as the words 'firms which wish to continue to hold themselves out as independent' are typed in. Not, you will notice, 'wish to remain independent' or even 'wish to have access to the whole market for their recommendations'. It could hardly be starker. There is absolutely no doubt that, in the new depolarised world, the whole concept of independent advice is to be consigned to the dustbin of regulatory history. Business as usual with the menu option? I don't think so. Reading through the consult...