AIFA welcomes single disclosure document proposal

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THE Association of IFAs (AIFA) has dubbed an FSA proposal to introduce a single disclosure document as "good news for members".

Fay Goddard, deputy director general of AIFA, said the plan to introduce the optional document as a replacement for the Menu and IDD would also be beneficial to consumers. The regulator yesterday published a consultation paper outlining the proposal for the optional document as guidance. It maintained advisers are still free to decide how best to disclose their costs and services to consumers. "We support the proposal to simplify disclosure and combine the Menu and the IDD into one overarching document," Goddard said. "A more flexible approach to disclosure is welcome and the removal...

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