IFA Centre praises FSA guidance

The regulator confirmed yesterday firms who refer clients to restricted advisers for retail investment advice will not have their independence threatened after implementation of the Retail Distribution Review (RDR) rules. Managing director Gill Cardy said the FSA's rules on referrals were the most significant change to the guidance. "There can be little reason for firms to continue to delay the decision whether to offer independent or restricted advice post-2012," she said. "It is now very clear that if a firm is not advising a specific client but instead referring him or her to an...