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Panel calls for commission ban

The Financial Services Consumer Panel has called for a ban on commission payments to advisers but also warned that sales bias must be eradicated. Speaking on the release of its annual report, FSCP chairman John Howard says this is a “vital opportunity” to change the face of retail financial services and avoid future misselling scandals.

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‘Don’t settle for 10% returns’

New Star director Ravi Anand believes an increasing demand for institutional-style benchmarks in the retail market has put some investors off hedge funds as the industry looks for what is traditionally seen as the safer option.Anand said most IFAs now see a 10 per cent annual return as excellent even though other funds with differing […]

Regulator is right not to increase ombudsman limit

Having been closely involved with two of the cases referred to in Adam Samuels’ article headlined, Power Failure at FOS, (Money Marketing, June 14), I do take issue with the main thrust of the article, namely that the FSA looks foolish in declining to raise the ombudsman’s jurisdiction limit. In my opinion, the FSA looks […]

Regulator sets out priorities

The FSA has called on advisers and clients to ensure they have their priorities straight over what they want to get out of investing in a fund of hedge funds.It believes some advisers are overly concerned with having limitless knowledge of the issue to ensure they are not in breach of treating customers fairly when […]

Four-way split looming as retail review row rages on

Last-minute arguments are still raging within the FSA over the final draft of the retail distribution review, with the market set to segment four ways and doubts hanging over the future of the IFA tag.Sources close to the RDR say a draft paper, which is understood still not to have been finalised, proposes scrapping the […]

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