Corporate IFAs face further competition from other "professional firms" if the government decides to loosen Financial Services and Markets Act rules regulating occupational pensions trustees' investment activities.
Furthermore, the possible changes might also increase the risk of "misguided decisions", admits the Treasury. The Treasury has today published its Financial Services and Markets Act 2000 (FSMA) two year review: changes to secondary legislation , in which it proposes to make some amendments to the Business Order setting out the rules for trustees. One of the changes set out in the document is the proposal to relax restrictions on who is eligible to advise trustees on investments. That said, while the amendments might make it harder for IFAs to gain the same levels of business from...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
