Committee calls industry too complex and opaque

regulation

treasury select committee report deplores the fact aifa has no code of conduct

Aifa needs to develop a code of conduct for its members and the financial services industry needs to move away from commission-based payments, the Treasury Select Committee has suggested. The proposals, included in the committee's report into Restoring Confidence in Long Term Savings released last week, are coupled with recommendations for the restriction of trail commission and a move towards fee-based remuneration. It stops short of advocating abolition of commission, however. After months of hearings at the House of Commons, the all-party group has published conclusions and suggestions...