EU cost threat to SIPPs, self-select ISAs flagged

The cost of turning over stocks within portfolios underpinning SIPPs and self-select ISAs could become prohibitive if the suitability requirements currently being discussed in Brussels were applied to execution-only services warns IFA Inter-Alliance. As previously reported by IFAonline the Investment Services Directive in particular is causing concern to many financial services associations and representative organisations on precisely this point. Although the European Parliament's Economic and Monetary Affairs Committee has repeatedly delayed its final vote on amendments affe...