Compliance totals more than 10% of IFA costs

The compliance burden on smaller intermediary businesses now represents more than 10% of costs in more than a third of cases. Research from the FSA Small Business Practitioner Panel, which was set up to advise the regulator on how to deal with smaller firms, said that for 35% of smaller businesses regulatory costs were now excessive. The research, which considers an advisory business with 10 or less approved intermediaries as a small business, also showed that small businesses felt the regulator had failed to provide sufficient guidance to firms. The burden of regulation is so bad, th...