FSA publishes rules on adviser charging
The Financial Services Authority (FSA) has today (26 March) published new rules that aim to "remove commission bias" from the sale of retail investment products and boost consumer confidence.
In a statement, the FSA said the Retail Distribution Review (RDR) “aims to put the customer in charge by providing them with vital information about the cost and nature of the advice they are receiving”.
From the end of 2012, firms will have to be upfront about how much they charge for their services. In addition, firms will not be able to accept commission in return for recommending specific products.
The FSA said: “Consumers will know what they are buying upfront, how much it will cost them
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