The Financial Services Authority (FSA) will decide the fate of the RU64 rule next month when they put their final proposal before the FSA board.
But even if the rule is abolished, the FSA would still expect advisers to take into account the potential impact of a National Pension Savings Scheme (NPSS) on their clients, if it is implemented, when advising on pension arrangements. Speaking at the Treasury Select Committee inquiry into the design and regulation of an NPSS, Clive Briault, managing director of retail markets at the FSA, said although it was still considering the “very divergent views” received in response to the consultation on RU64, it would be putting a proposal to the board in June. Under current FSA regulation, the ...
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