Kenmir outlines FSA push to exempt IFAs from MiFID requirements

Speaking today, at the first FSA Retail Intermediaries Sector conference held in Birmingham, David Kenmir, FSA managing director regulatory servicesbusiness unit and sector leader retail intermediaries, has recommended personal investment firms be excluded from the capital adequacy requirement of the Markets in Financial Instruments Directive (MiFID). Proposals to exclude IFAs was first proposed by the regulator in its international regulatory outlook contained in the FSA’s Financial Risk Outlook 2005 published last month. David Kenmir today has told IFAonline the Treasury is consider...