FSA will not back down over commission ban
Just because the European Commission has banned commission payments in Europe…a similar ban, quite rightly, is not going to happen over here.
Just because the European Commission has banned commission payments in Europe…a similar ban, quite rightly, is not going to happen over here.
A group representing financial advisers across Europe is petitioning the European government not to introduce a ban on commission payments, a move it says will damage small business and hurt investors.
The European Union is not going to follow in the FSA’s footsteps and implement a blanket ban on commisison payments from financial product providers to its distributors.
The regulator intends to consult the industry on how legacy business and RDR will interact.
Rebates to advisers and platforms are to be addressed in an FSA paper expected out next week.