Commission impossible

Hindsight is a wonderful attribute, particularly when it comes from a regulator. So it was interesti...

Hindsight is a wonderful attribute, particularly when it comes from a regulator. So it was interesting to see the FSA's outgoing CEO John Tiner speaking with the benefit of it last week at the ABI annual conference. Commenting just a few days after the Retail Distribution Review, he said on reflection he wished the FSA had stuck to its guns back in 2002 in the infamous CP121 on depolarisation. Five years later, with a four-tier advice system and major upheaval in the offing, many intermediaries probably wish it had as well. Tiner also said in his speech that commission is not inherently ...