View more on these topics

FSA unveils replacement for Menu and IDD

The FSA has announced it will introduce the Services and Costs Disclosure Document to replace the Menu and Initial Disclosure Document in August.

The regulator says the document will combine key information about firms’ services and costs and will provide firms with greater flexibility to explain the cost of their services in their own words.

As guidance it will be one way for firms to meet COBS disclosure requirements, although firms will be free to develop their own material in order to comply.

The FSA will be putting transitional arrangements in place to enable firms to continue using the Menu and IDD until August 31, 2009.

The regulator says this will allow firms to exhaust their existing stock of documents and give them time to consider the disclosure option that best suits their business model.

FSA head of retail investment policy Andrew Sykes says: “Our emphasis on more principles-based regulation means focusing on the outcomes that matter and giving firms the freedom to meet these outcomes flexibly. This new material builds on the guidance that currently exists and will further simplify investment disclosure.

“It aims to help firms provide key information in a more streamlined way to help consumers better understand the services being offered, and the cost of those services.”


Market leaders move to simplify

Simplifying the submission process for IFAs is top of the agenda this week as Royal Liver becomes the latest protection provider to boost its online system.

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm