The FSA will collect more data from firms after 2012 and monitor their activities to "mitigate the risk of poor consumer outcomes" and make sure they have implemented its adviser charging rules.
Small firms expect they will be hit harder by the ongoing cost of implementing the FSA's data collection rules compared to their larger counterparts and banks.
The FSA wants to monitor complaints data for individual advisers throughout their careers, with information linked to Individual Reference Numbers.
(Updated) The FSA is proposing to add two new sections to the RMAR meaning firms must disclose adviser and consultancy charging revenue as well as data on client numbers and charging structures.