Tiner gives December deadline on softing, bundling changes

clock

Reports the FSA is adopting a weak approach to soft commissions and bundling are WRONG and the regulator will pounce if the industry is unable to successfully trial its own solution by December, warns FSA chief executive John Tiner.

Giving brokers, fund managers, and others in the industry extra time to develop a process for improving disclosure of such payments may provide the best outcome, particularly as feedback on CP176 Bundled Brokerage and Soft Commission Arrangements indicates continued differences in exactly how to bring about change. The regulator intends to publish its own Policy Statement on softing and bundling by next month, as well as research conducted by accountant Deloitte & Touche suggesting there will not be an exodus of business from the City even if stricter rules apply. However, Tiner says ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Appetite for financial advice increases yet overall take-up rate falls

Appetite for financial advice increases yet overall take-up rate falls

Men still more likely to take advice than women

Isabel Baxter
clock 19 November 2025 • 3 min read
 PA Awards 2026: Provider shortlists revealed!

PA Awards 2026: Provider shortlists revealed!

Celebrating excellence in supporting financial advisers

Professional Adviser
clock 19 November 2025 • 2 min read
Advisers urged to 'question' conventional allocation models

Advisers urged to 'question' conventional allocation models

Doug Brodie speaks on investment trusts’ benefits

Isabel Baxter
clock 19 November 2025 • 5 min read