FSA proposes single disclosure document

The regulator has suggested that such a document would simplify investment disclosure and continue to give firms discretion over how the information is presented while maintaining their responsibility to clients. It has issued a consultation paper to assess whether it would be appropriate for the industry to develop guidance in this area. The proposals follow the FSA's new Conduct of Business Sourcebook (COBS), which came into force on 1 November. This introduced a principles-based approach, giving advisers flexibility as to how they give their clients information on services and costs....