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FCA unearths evidence of firms undermining RDR

Two firms face possible enforcement action after review of new rules governing commission payments to financial advisers

The Financial Conduct Authority is mulling enforcement action against two firms for potentially breaching inducement rules under the retail distribution review that came into force at the start of this year.

RDR bans financial advisers from taking commission payments from fund managers in exchange for recommending their wares to clients.

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