The Financial Services Authority (FSA) has written to 24 product providers and advisory businesses to warn them against signing up to commercial arrangements which may be seen as attempts to circumvent the incoming adviser charging rules.
It said it is "concerned" that some firms may be soliciting or providing payments that do not look like traditional commission, but are generally intended to achieve the same outcome. The FSA has set out three examples of inducements that it is concerned by... 1. Cost contribution from a provider for distributor training/conferences/seminars etc...
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