FSA calls for an end to adviser commission deals

Thursday 25 June 2009 at 06:43

The UK Financial Services Authority has outlined plans to ban commission payments from product providers and force financial advisers to agree fee payments with clients upfront, as the regulator looks to rebuild "trust and confidence in the retail investment market".

The FSA has issued a consultation paper on its Retail Distribution Review, with a closing date for comment of October 30 this year. The FSA plans to publish a policy statement containing its final rules in the first quarter of 2010.