24/11/2011 - FSA To Target IFAs Churning For Trail

FSA To Target IFAs Churning For TrailFSA To Target IFAs Churning For Trail.

Following the announcement by the Financial Services Authority (FSA) to continue with the ban of legacy commission, the regulator is monitoring trail commission to identify whether there is any behaviour about which they should be concerned.

According to Peter Smith, director of investment policy for the FSA, they are seeing ongoing advice and recommendations for products that offer trail commission and want to ensure that advisers are making appropriate recommendations to clients and are they doing things that would lead to appropriate outcomes.