Trade body SIFA has protested against the reduction in time allowed for responses to a Solicitors Regulation Authority (SRA) consultation into adviser referrals, stating the reduction is not "proper and democratic".
The consultation into whether solicitors should be allowed to refer to restricted as well as independent advisers was formally launched this week. A similar paper was released to the board on 4 July. The result of the consultation will inform changes to the SRA's Code which will reflect the Financial Services Authority's (FSA's) new definitions around ‘independent' and ‘restricted' advisers. SIFA said that, though government's guidelines regarding a good practice length of time for a consultation is 12 weeks, the SRA is allowing just six weeks for its consultation. SIFA said in ...
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