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Depolarisation may be brought forward

Depolarisation is likely to take place in December, a month earlier than the market has been expecting.

FSA sector manager (retail intermediaries) Paul Rich says the final rules should be out by the start of December, with depolarisation being implemented later in the month.

There will be a six-month transitional period when the market can take early advantage of the changes.

Rich says the FSA will offer training workshops from late November to help firms understand the distribution options under the new regime through a mixture of formal presentations and case studies.

The workshops are aimed at prospective multi-ties, IFAs, networks and providers. They will particularly target firms developing their own menu and initial disclosure documents or those responsible for ensuring compliance with the FSA&#39s code of business requirements.

Rich stresses that the changes brought about by depolarisation are permissive and allow different options. Advisers do not have to change straight away and Rich advises small intermediaries not to worry about what the big national networks are doing as they know best what their clients want.

He says advisers have the power to influence what is on offer from providers, for example, innovative products.

Rich says: “We should have another paper on depolarisation out in early December and depolarisation will probably be implemented in December, with a six-month transitional period when people can take advantage of the changes early.”

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