Conservative MP Harriett Baldwin today called for a reassessment of FSA proposals to ban commission and enforce higher minimum qualification requirements on experienced advisers as parliament debates the RDR for the first time.
She also backed a suggestion to hold a three-hour backbench debate in the House of Commons at a later date. Baldwin, a former investment manager at J.P.Morgan, said experienced advisers should not be forced to sit further examinations to be able to continue to do their job from 1 January 2013. Speaking at a private members' debate in Westminster Hall on the regulation of IFAs, she suggested advisers should instead be able to list their existing qualifications on their business cards, and leave it up to the consumer to decide whether to accept advice from that 'unqualified' IFA. Bal...
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