Highlights of the FSA's proposals in CP 121

clock

• Intermediaries who accept fees can use the tag 'independent'. Renewal commission, level or trail c...

• Intermediaries who accept fees can use the tag 'independent'. Renewal commission, level or trail commissions on contracts written before the FSA's polarisation changes are enacted will still apply. • The FSA's proposals on polarisation state that the concept of a defined payment agreement would require the customer to agree to pay the adviser a fee. The method of calculation of that fee would have to be agreed before any chargeable work is carried out. • The adviser would not be permitted to keep any commission in excess of the stated fee, except where the customer has also consented ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: High-yield investors should keep a close eye on the default cycle

Partner Insight: High-yield investors should keep a close eye on the default cycle

As central banks start to think about cutting interest rates, forecasts for a peak in credit default rates are not far behind — and could happen sooner than expected, says Wellington Management’s Alex King.

Sarka Halas
clock 27 March 2024 • 2 min read
Partner Insight: Navigating a new era for investing

Partner Insight: Navigating a new era for investing

Across the developed world, inflation is back and here to stay, says Wellington Management’s John Butler.

Sarka Halas
clock 13 March 2024 • 2 min read
Partner Insight: Should investors go global for more impact?

Partner Insight: Should investors go global for more impact?

Global investing offers scope for broader social impact as well as financial returns.

Sarka Halas
clock 11 March 2024 • 1 min read
Trustpilot