The Financial Services Authority's decision to keep in place rule RU64 has prompted a mixed response from advisers.
While some say they are disappointed by the decision, others say it was having little bearing on their businesses regardless. However, the regulators original indecision over RU64 angers some advisers who say they’re “not quite sure what’s going on”. The rule requires advisers to state why the product they are recommending is at least as appropriate as a stakeholder pension. In May 2006, the FSA announced the final decision would be delayed until details of how personal accounts would work became clearer, but a consultation paper in October on ‘Reforming Conduct of Business Regulation’ f...
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