The draft European Directive stipulates that independent advisers should not accept remuneration from any third party except the client. However the draft rules leave out whether commission is therefore allowed to be paid to advisers who only offer restricted services.
Final rules from Europe are expected later this month. The FSA will then have to apply the directive to the UK, under the EU's 'maximum harmonisation' rule. In June, FSA director of conduct policy, Sheila Nicoll, raised concerns over the implementation of key European Directives, including MiFID and the proposed regime for packaged retail investment products (PRIPs).
Full article
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article