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Early start on ethical standards

The FSA says that a staggered implementation of some of the RDR proposals could be appropriate and says certain measures could be implemented as early as mid-2009. It says advisers should put in place “at least the ethical and behavioural professional standards” required as early as possible, even if it takes longer for the qualifications to be attained.


IFA capital requirement could rocket

Some IFA firms are to be hit with capital adequacy requirements of 30 times their current levels as part of the retail distribution review, according to Aifa.

A boost for bonds

Panellists upped the allocation of bonds in the Balanced Adviser Fund Index during the November rebalancing. Cazenove UK Corporate Bond, L&G All Stocks IL Gilt Index, M&G Strategic Corporate Bond and Standard Life Global Index Linked Bond joined the benchmark, as the fixed-income weighting grew by 4 per cent.

Corporate pension decision shelved

The RDR feedback statement has postponed any decision on how the proposals will affect the corporate pension market until 2009. Pension commentators have expressed concern that if RDR proposals on remuneration are not applied to the corporate market, then product providers could sidestep the proposals by writing individual pension business under group schemes.


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