IFA performance rewards breaching TCF - Sants

Speaking at the Association of Private Client Investment Managers and Stockbrokers (APCIMS) conference yesterday, Sants said the regulator has come across several cases where firms have failed to consider its clients before implementing reward schemes. He said firms should consider how their reward culture plays its proper part in delivering fair consumer outcomes. Although only a handful of IFAs constitute APCIMS members, the FSA says the warning extends across the advice industry. The regulator says it considers reward schemes to include salary bonuses, commission and profit sharing...