regulation keypoints
The FSA’s retail distribution review (RDR) was launched in June 2006 to tackle “many persistent problems”.
The retail distribution review resulted in rules dictating the level of qualifications that advisers must achieve, the way they explain their services and how they must be paid. The rules will come into force at the end of 2012.
These rules apply to all advisers in the retail investment market, regardless of the type of firm they work for.
To read the FSA’s description of the Retail Distribution Review click here.
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Published by Emma Ann Hughes , Apr 04, 2012
Rules for switching client’s investments
What advisers must consider when deciding whether to switch a client’s investment is outlined in a 26-page FSA consultation paper.
Proposed: consultation paper deadline for .
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Published by Emma Ann Hughes , Mar 26, 2012
Facilitation of adviser charging
How providers can pay adviser charges on behalf of the client is covered in an FSA policy statement.
Final ruling: consultation paper deadline for 31 Dec 2012.
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Published by Emma Ann Hughes , Mar 16, 2012
Changes to training and competence sourcebook
Amendments to qualification standards that advisers have to meet as part of the Retail Distribution Review (RDR) have been outlined.
Amended: consultation paper deadline for .
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Published by Emma Ann Hughes , Feb 28, 2012
Legacy commission post-RDR
Trail commission can continue to be paid post-2012 on the investment amount resulting from pre-Retail Distribution Review advice or a pre-RDR...
Final ruling: consultation paper deadline for 31 Dec 2012.
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Published by Emma Ann Hughes , Feb 27, 2012
Independent and restricted status explained
The FSA has explained what firms need to do in order to say they offer independent advice post-2012.
Proposed: consultation paper deadline for .
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Published by Emma Ann Hughes , Dec 06, 2011
Restrictions for advisers offering DIFs
The FSA reveals how advisory firms offering their own distributor-influenced funds must operate.
Proposed: consultation paper deadline for .
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Published by Emma Ann Hughes , Nov 21, 2011
Accepting trail commission
The FSA confirmed commission for pre-Retail Distribution Review advice can continue to be paid and can be transferred to a different adviser.
Proposed: consultation paper deadline for .
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Published by Emma Ann Hughes , Oct 12, 2011
Adviser charging and Isas
HM Revenue & Customs has clarified the impact adviser charging will have on Isa subscriptions.
Final ruling: consultation paper deadline for 31 Dec 2012.
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Published by Emma Ann Hughes , Oct 10, 2011
Qualification requirements for advisers
Qualification requirements for investment advisers and the need to obtain a statement of professional standing were explained in this FSA’s policy...
Final ruling: consultation paper deadline for 31 Dec 2012.
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Published by Emma Ann Hughes , Oct 05, 2011
Platform payment rules
The Financial Services Authority published rules on platforms on 1 August but failed to make a decision about whether rebates would be axed.
Final ruling: consultation paper deadline for 31 Dec 2012.
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Ashley WassallonIFA Industry| May 17, 2012Advisers, not the FSA, should be spreading the RDR word
Education on rules will serve little purpose, but focusing on the finer points of regulation could reap rewards.
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Hal AustinonRegulation| May 09, 2012
Flawed regulation
The hawks are out again for Bank of England governor Sir Mervyn King, following his frank and revealing BBC Radio Four lecture last week in which...
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Hal AustinonRegulation| May 03, 2012
Banks, bad attitudes and bad behaviour
Criticism of banks by the outgoing chief executive of the FSA coincided with Capgemini’s report on global banking.
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John LappinonIFA Industry| Apr 16, 2012Financial advice could be dictated by PI
The FSA needs to ensure professional indemnity insurers do not dictate the terms of the RDR
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Hal AustinonRegulation| Apr 05, 2012
FSA has made ‘simple’ advice anything but
In a vain attempt to make itself more clearly understood, the FSA simply adds further confusion to the mix.
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Ashley WassallonRegulation| Mar 28, 2012
Are restricted models a threat to FSA’s RDR project?
Propositions aimed at restricted advisers could undermine drive to remove pecuniary incentivisation.
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From IFA Industry| Mar 26, 2012Axa Wealth could change charges for restricted advice
Firm urges advisers to “give considerable thought” to service they will offer, claiming IFAs will have “higher cost base”.
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John LappinonRegulation| Mar 26, 2012IFAs should target private bank clients after FSA rebuke
Post RDR, advisers should set out to win clients previously serviced by private banks.
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From Regulation| Mar 20, 2012RDR will increase consumer trust and flexibility, Hoban
Mark Hoban, Steve Webb and Adair Turner respond to concerns that poorer consumers will be alienated from advice post-RDR.
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John LappinonRegulation| Mar 12, 2012
Out of the pan and into the RDR fire
Should advisers convert the commission they receive from pre-RDR investments into a fee and, if so, how?