FSA urged to switch 'restricted' tag for 'sales representative'

In its submission to the Treasury Select Committee (TSC), the organisation broadly supports the RDR and emphasises its opposition to any grandfathering rights. However, one area where it is calling for more radical regulatory overhaul is in the labelling of advisers. It says: "Which? has consistently argued that there must be a clear distinction in the market between those offering independent, unbiased advice which is in the best interests of the consumer and those simply trying to sell one of a limited range of products (such as those advisers who work in banks). "The labels atta...