FSA moves to clarify information on IFA costs and services

The FSA is introducing a revamped disclosure document on 6 August which aims to simplify the informat...

The FSA is introducing a revamped disclosure document on 6 August which aims to simplify the information advisers give to consumers about their costs and services. The Services and Costs Disclosure Document will give firms greater flexibility to explain their charges in their own words and replaces the Menu and Initial Disclosure Document (IDD). Firms may continue using the IDD until 31 August 2009 to allow them to use up their existing stock of documents and consider the disclosure option that best suits their business model. The regulator’s head of retail investment policy Andrew Syk...