AIFA issues fresh guidance for advisers on new FSCS funding model

It follows news the FSA has contacted firms via email requesting updated income streams based on the different services they offer. AIFA says any firms that have submitted information to the regulator, and now realise it is wrong, should contact the FSA as soon as possible. It says although this is causing firms “some difficulties”, it will, in the long-term, represent lower costs and simpler administration for advisers. AIFA was at the forefront of a campaign to change the FSCS funding model, which the FSA announced will come into effect on 1 April 2008. The new scheme is based on ...