The FSA today set out 13 examples of when the legacy commission ban will kick in - and a narrow set of circumstances under which advisers will be allowed to receive trail commission in the post RDR world.
The consultation paper sets out practical examples of activities not falling under adviser charging rules (see second table below) - including platform re-registration and where firms provide discretionary management services and no advice is given. Circumstances which fall under the scope of adviser charging rules - such as recommending a certain investment - do also apply to life policy funds, the FSA said. Recommendation Regulated under article 53 I recommend that you take out the ABC investment. Yes. This is advice which steers the client in...
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