Taking the Retail Distribution Review to Europe
The Financial Services Authority’s new regime is set to ban commission payments to IFAs. But will it clash with forthcoming EU regulations on retail distribution or will EU member states follow the FSA's lead? By Magda Ali
One effect of the build-up towards the implementation of the UK Financial Services Authority's (FSA) Retail Distribution Review (RDR) has been increased scrutiny in other jurisdictions of the commission-based selling of financial products by independent financial advisers (IFAs). After public anger shone a spotlight on commission-based mis-selling of structured products - in some cases revealing that IFAs were being paid for advice they were not qualified to give - regulatory initiatives in the
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