RDR protection paper: Mortgage brokers may face protection commission disclosure

The regulator has clarified those protection selling advisers who will be affected by its latest Retail Distribution Review (RDR) proposals, but admitted a flaw which could see mortgage sellers also having to reveal their commission payments. It confirmed that "only pure protection sales and advice ‘associated' with investment advice" is intended to be subject to its proposals to force disclosure of adviser remuneration. However, if an adviser firm decided to apply the transparency to all protection sales business-wide, as opposed to on a client-per-client basis, mortgage brokers work...