New FSA disclosure documents not so 'simple' for advisers

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Adviser firms wishing to use the FSA's new ‘simplified' disclosure document could find themselves having to wade through up to 60 explanatory notes before they can construct their consumer guide.

This morning, the FSA released a policy statement giving an outline of the new disclosure documents (these offer guidance for IFAs who also have the option of constructing their own documents) which investment advisers can use as a replacement for the Menu and IDD . There are two document templates given at the end of the policy document in the section marked Final Handbook Text: (a) for advisers just doing investment business (from page 12 in Annex 1) (b) the combined document for advisers doing investment and other business (from page 26 in Annex 1) However, although the final ...

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