Lakey: Why the FSA's data proposals may lead to price control

Yesterday, the regulator proposed collecting a detailed breakdown of firms' income through adviser charging, including number of clients, how they paid and how much they paid. Used alongside the product sales data (PSD) it already collates, the FSA said it wanted to calculate the average adviser charge so it could spot pricing anomalies in the market and better protect consumers. Adviser Alliance founder Alan Lakey said while some of the proposals were sensible, others could carry "nasty overtones" which could see the regulator rein in firms for charging fees they consider are too hig...