Calls for FCA to force structured product fee ringfence

He said: “It should become a regulatory rule but acting ahead of the game shows that the industry takes these things seriously.”

On 26 April, Reyker confirmed that Merchant Capital investors will have to pay a minimum £75 fee for a “typical” investments. On top of this investors will pay £115 per annum if their product is a capital accumulation plan and £195 per annum if it is a monthly income plan with plans to cap costs at £500 and £600 respectively.

UKSpa was not available for comment.