From the Ed: This is not the end

Given that it has refused to budge on its flagship piece of work (the RDR), even though a number of key European stakeholders are unsure on some of its aspects, it seems the FSA itself believes it is. The thing with a commission system is not that it is abused (though it clearly has been), but that it is, by design, open to abuse. It leaves the consumer at the mercy of the system. The FSA quite rightly decided a system which so readily (if unintentionally) promoted mis-selling must end. But, almost unbelievably, a key negotiator on MiFID this week said what hundreds of advisers have b...