AIFA

AIFA is calling on the FSCS to consult with the industry on exactly how it will rebate levypayers with money repaid to it by Norwich & Peterborough (N&P).

A member of the AIFA RDR Working Group has launched a public attack on the organisation saying it is disproportionately influenced by pro-fee IFA firms and takes a "Stalinist approach" to crushing dissent.

AIFA director Stephen Gay has called into question figures the FSA presented to MPs on how many advisers have reached QCF Level 4.

AIFA has joined the growing chorus of industry players urging the FSA to re-think its proposal to ban cash rebates as it warns the plans will be detrimental to customers.

Advisers are at risk of further FSA action as miscommunication between AIFA and the ABI means many are not aware of critical illness (CI) sales guidelines released last year.

Alan Lakey, founder of IFA lobby group Adviser Alliance, has hit back at comments made by new AIFA director general Stephen Gay on "shouting" anti-RDR pressure groups.

AIFA director general Stephen Gay has criticised RDR pressure groups and skeptics while defending the role of trade associations in fighting regulation.

Industry experts today expressed concerns advisers are still unsure of the post-RDR definition of independence.

Lobbying group Adviser Alliance is confident it will secure a judicial review into the FSA's decision to remove a complaints long-stop in financial services - and has not ruled out an approach to AIFA.

Mark Garnier MP says ill-feeling towards AIFA and the CII is "widespread" in the letters he receives from IFAs, who say the bodies either fail to represent or listen to their members.