A poll conducted by Exweb has revealed that seven in ten financial advisers disagree with a proposal to raise capital adequacy limits for commission-only firms in the FSA's Retail Distribution Review.
The poll, which was launched during the RDR conference on Wednesday, has received over 450 responses. Of these, only 13% of respondents stated that they completely agree with the new proposals, compared with 69% who were against the move.
Current proposals suggest raising the capital adequacy limit, an amount of capital firms must keep aside to insure against operational risk, though the FSA has not given any clear idea of the scale of such changes.
The Exweb poll is one of the first to guage the opinions of IFAs regarding the RDR proposals made. It remains to be seen if this reflects the true feelings of the industry towards RDR as more surveys, polls and consultations are likely to be conducted over the next few months.
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