IFAs could see demand for consumer advice expand over the next five years as the European Commission proposes to increase cross-border access to financial services products and extend financial mediation by "knowledgeable and reliable intermediaries".
Details of the European Commission’s green paper on the next five years of the financial services industry builds mainly on existing rules of the Financial Services Action Plan but suggests the retail financial services market would benefit from opening of further cross-border business potential. The initial 14-page document issued by the EC Internal Market commissioner Charlie McCreevy says there will be no “FSAP 2” over the next five years in its development of the industry, but the EU will instead look to “explore ways of improving cross-border access to retail financial services and...
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