The Association of British Insurers (ABI) has suggested European proposals on banning commission for financial advisers may yet have an impact on RDR.
Drafts of the MiFID II legislation detail a ban on commission, but the wording only refers to independent financial advisers. It led to suggestions restricted advisers may be able to continue taking commission, the FSA has already attempted to quash this speculation. However, speaking at the Marketforce Future of Distribution in Financial Services conference today, ABI director of life and savings Maggie Craig suggested there may be more movement on the issue. "There is nothing going on in Europe that is going to be a show stopper for RDR, but they will have an impact," she said. ...
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