The FSA will collect more data from firms after 2012 and monitor their activities to "mitigate the risk of poor consumer outcomes" and make sure they have implemented its adviser charging rules.
A consultation paper, published today, outlines how the FSA plans to do this by making two key changes. Proposal 1: New RMAR requirements The FSA proposes to extend the transactional data it currently receives via product sales data (PSD) by collecting extra information from firms via the twice-yearly RMAR forms. It does not currently collect 'disaggregated' data on adviser remuneration, but, from 2013, it suggests firms break down how much money they bring in via adviser charging, how many clients they have and how they are paying for the firm's services. It will do this by ...
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