FSA unable to confirm Severn will throw out DPS

Plans to introduce a Defined Payment System and Authorized Financial Advisers could now be scrapped by the FSA, as officials are hinting the AIFA's menu option could be the favoured remuneration system for advisers. FSA officials say they are unable to substantiate reported comments made by David Severn, head of the FSA's polarisation review, at a conference in London yesterday - which suggested proposals to implement the DPS have now been thrown out - as Severn did not make any speech notes. However, if the FSA decides to move in favour of any other than the Defined Payment Syste...