FSA rethinks plans to collect adviser data via PSD

In a policy statement on data collection, published today, the regulator said it was concerned data from providers would only capture adviser charges facilitated through them and would miss charges paid directly to the intermediary. The FSA has already set out rules requiring firms to break down their adviser charging revenue on twice-yearly RMAR forms by type of advice (independent or restricted), type of service (initial or ongoing advice); and payment mechanism (directly from clients, facilitated via product providers or platforms). But it also planned to supplement this by collect...