FSA proposals to simplify and improve the standard of Key Features Documents, used every time an investor buys investment products through an adviser, has been welcomed by IFAs.
A Key Features Document sets out the main features offered by an investment product or service. However, many IFAs said the current document confuses and bewilders investors because it contains too much detail. The FSA has proposed simplifying the point of sale disclosure requirements as well as improving Key Features Documents. It will also scrap plans to introduce new disclosure documents, such as the Quick Guide, new style charges and projection sheets. The FSA said its research indicated the benefits of introducing the proposed new documentation would be limited. The regulator al...
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