Highlights of the FSA's proposals in CP 121

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• 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 ...

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