Menu: little change on initial recommendations

PS 04/27 Reforming Polarisation: Implementation reveals the FSA found “no major issues” through the consultation on CP 04/3, which proposed the menu options. ”The final policy we are implementing closely reflects the contents of CP 04/3,” the FSA writes. Thus, the rules will require advisers to provide a menu outlining the cost of advice “when a firm’s representative first makes contact with a private customer with a view to advising on packaged products.” The menu will also have to disclose a “market average” to provide a benchmark of what may constitute competitive levels of commi...