fees

The Retail Distribution Review (RDR) has the potential to be the ‘next financial scandal', despite the Financial Services Authority's (FSA) latest attempts to educate consumers about the reforms, campaigner Gina Miller has warned.

The Association of Independent Financial Advisers (AIFA) is urging the Chancellor to reconsider plans to direct regulatory fines to government coffers.

The chairman of the Financial Services Authority (FSA) has defended the current system of regulatory fees and levies for small firms, arguing they are proportionate to the size of the firm.

Cofunds has launched its client segmentation and updated fee flexibility functionality as part of the platform's efforts to help prepare advisers for the Retail Distribution Review (RDR).

MYTHBUSTERS

Financial advisers will pay a lower fee to fund the Financial Services Authority (FSA) than initially thought after arrangements for 2012/13 were finalised.

CONDENSED

The Financial Services Compensation Scheme (FSCS) has more than doubled the annual levy for financial advisers for 2012/13, largely as a result of known claims relating to Arch Cru and MF Global.

Most IFA clients are supportive of the incoming adviser charging regime, research suggests.

The government must conduct a full review of the 'uncontrollable' cost of regulation and the impact it is having on businesses, according to Tenet.