Data collection: Small firms fear biggest bill

Smaller intermediaries make up the majority of firms submitting RMAR or complaint returns, the areas where the FSA has today proposed sweeping changes to how it wants data collected. The FSA is proposing firms disclose adviser and consultancy charging revenue as well as data on client numbers and charging structures on RMARs. It also wants to monitor complaints data for individual advisers throughout their careers, with information linked to Individual Reference Numbers. In the proposals' cost benefits analysis, the FSA said firms with one to three investment advisers estimated low...