FSA fires warning shot to firms offering DIFs

In its first Conduct Risk Outlook published today, the regulator says it has concerns over the quality of advice and sales processes relating to DIFs and, in particular, the potential for conflicts of interests. "Firms with DIFs should understand we have concerns over this market and we would expect them to pay particularly close attention to sales processes here and the quality of their advice, including their obligations under the client's best interests rule," it says. "We continue to monitor this market and expect standards to improve." The FSA says if standards do not improve it ...