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The Financial Services Authority says market average commissions used in the depolarisation menu will not be altered, despite industry feedback suggesting they are not representative of products' average rates.

The Association of IFAs has questioned the way in which some of the depolarisation menu market averages have been calculated by the FSA.

Mortgage advisers and lenders could be required over the next few years to disclose charges, early repayment fees and additional data upfront in a manner similar to that imposed under depolarisation.

The big day has arrived: depolarisation is on its way and financial advisers have to decide what type of business they want to run in the future.

Clerical Medical is hosting series of national roadshows early in 2005 to help financial intermediaries prepare for introduction of the financial advice menu in June 2005.

Product providers are not allowed to provide 'inducements' to intermediary firms in return for secure distribution deals, says the FSA.

Tied advisers will be required to present keyfacts menu documents which include information using new 'commission equivalent' calculations, however, gathering that data and presenting it could be complex.

Several specific issues relating to the calculations of market average rates set to be included in menus to provide consumers with comparators were of sufficient concern to warrant mention in today's Policy Statement.

Several changes have been made to the format of the actual advice menu since proposals were last laid out following feedback from the industry, reveals the FSA.

All financial advisers will be required from 1st June 2005 to disclose the firm's remuneration arrangement to all clients ‘on first making contact', and present a copy of both the advice cost menu the initial disclosure document (IDD) as soon as possible....