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AITC gives tentative welcome to proposals

The AITC has given a tentative welcome to the FSA&#39s consultation on polarisation, applauding the paper&#39s radical nature.

Director-general Daniel Godfrey says he was particularly pleased to see the unbundling of the cost of advice from product charges on the paper&#39s agenda.

Previously, the AITC has been a staunch supporter of the current polarisation regime. But Godfrey says that a combination of depolarisation and a restructure of the way advice is paid for, may be beneficial for the consumer.

He says “This unbundling of the cost of advice from the cost of the product, as expressed in the AITC’s response to the Sandler review, will lead to improved standards of advice. Such a separation would mean that investors would be able to buy direct without having to pay for advice that they do not want and which they have not received. This would be a vital step in improving standards of advice as only those advisers who could demonstrate the value of their advice would prosper.”


Regime has been under threat since inception

The FSA&#39s plans to scrap polarisation are just the latest attempt to dismantle the regulatory regime which has been under threat since its inception 14 years ago.The concept of polarisation first appeared in the statute books in 1986 as part of the Financial Services Act. It had been proposed by the Marketing of Investments Board […]

Outside edge Robert Reid

Back in 1999, I found myself speaking at the Canadian Financial Planners conference on the topic of regulation. In the room set aside for speakers, I was checking my slides when another speaker entered the room. She introduced herself, then immediately asked if I minded if she was noisy. My reply was lost on her, […]

Framlington Isas its biotech fund

Framlington has established the Framlington biotech Isa, a unit-trust based Isa that invests in the company&#39s recently introduced biotech fund.The Framlington biotech fund aims to produce capital growth by investing in a portfolio of around 70 stocks within the biotechnology, genomics and medical research industries. It is managed by the same team responsible for the […]

Equity-release code is more important than ever, says King

The delay in bringing mortgages under the regulatory wing of the FSA has highlighted the importance of the code used to maintain standards in the equity-release market, according to its trade body.The newly appointed chairman of Safe Home Income Plans, Jon King, says the Ship code is more important than ever after the delay to […]


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