Contingent charge ban may not work for consumers - Keith Richards

The PFS chief pointed out contingent charging gives consumers an effective way to pay advice fees. "Contingent charging was in the regulator's sights prior to the implementation of the Retail Distribution Review, and has been earmarked as an area of future focus for some time," he said. "An outright ban [on contingent charging] is unlikely, however, as that might not work well for consumers, as contingency charging provides an effective mechanism for them to pay fees after agreement and implementation of the service provided and any subsequent transaction." In a consultation paper ...