FSA

The FSA today said in its long-awaited consultation paper platforms can continue to receive rebates from fund managers.

The direct compliance cost to firms of mortgage intermediaries adopting the RDR's 'independent' and 'restricted' labels will cost firms £17m in a one-off charge, the FSA estimates.

The FSA has outlined plans to ensure key messages about the service mortgages intermediaries offer and their charging structures are clearly given to clients, including oral disclosures for some advice streams.

The FSA is planning to extend the 'restricted' and 'independent' labels to mortgage intermediaries.

The FSA considered moving to an all-advised mortgage market but says consumers should not be "forced" down the advice route.

The BSA has called on the government to step in urgently to debate the future of the mortgage market.

Product providers have defended themselves against accusations of failing to bring enough public and political attention to the impact the RDR will have on advisers.

Almost a half of IFAs would consider becoming restricted post-RDR under existing FSA definitions, according to new research.

The FSA this week moved to allay fears interest-only deals will disappear from the market, saying it remains a "sensible" option for some consumers.

The FSA is considering limiting the role brokers play in assessing customers' affordability by simplifying the criteria they currently use.