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Fidelity in call to zap the cap

Fidelity is voicing is disapproval of price or commission capping by enc-ouraging IFAs to speak out against any efforts to introduce anti-competitive controls by the Government or regulator.

The fund manager is encouraging IFAs to sport its “Zap the Cap” baseball hat which it distributed to advisers who attended its recent annual roadshows.

It says it wants to raise awareness among IFAs about the possibility of commission caps becoming a reality.

Fidelity says Sandler&#39s consultation paper, published in July, states that the commission concept is fundamentally flawed, an assumption it firmly rejects.

If commission caps are introduced, the company says it could be a potentially disastrous blow to the UK financial services sector.

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