The FSA has mapped out various structures designed to help firms ensure they are compliant with new rules set out by depolarisation, which have to to be implemented over a six-month transitional period, starting 1 December.
According to the FSA, decisions will have to be made regarding the following areas: Which business model to adopt Development of the new disclosure documents Which level of commission to retain Which fee model to offer clients. In Chapter four of the Reforming Polarisation: Implementation - Feedback on CP04/3 (A menu for being open with consumers) and made textdocument, the FSA says it will provide industry training and workshops to help companies understand the new market structure and what they are required to do following implementation. Workshops will run from 30 November 2004 ...
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