FSA reduces market averages

Firms advising on collective investments regular, endowments regular and investment bond single must incorporate the new figures by 1 January 2007, as the rates for these products have reduced by 4% or more. Firms are required to revise their menus when the change in rates reduces the averages for a relevant product group by 4% or more. The FSA has also updated its menu commission calculator, which enables firms selling investment products to calculate their maximum commission and corresponding market average. Advisers enter their commission, or commission equivalent rates, for each ap...