| fsa rubber stamps advice offshore products Contained in the section of the guidance notes that sets out some of the FSA's expectations on meeting the standard for independent advice, the regulator states: "A firm that provides independent advice should base their recommendations on a comprehensive and fair analysis of the relevant product markets, which includes products, such as collective investment schemes, that are manufactured outside the United Kingdom but are widely available to United Kingdom consumers. As far as unregulated collective investment schemes (UCIS) are concerned, the FSA also made clear that it proposes to consult on new rules during 2012 in a separate statement. The onerous requirements mean that, even if the IFA firm's professional indemnity insurance policy specifically excludes certain products, this "would not be a valid reason for never advising on such products. |
Friday, 8 June 2012
fsa rubber stamps advice offshore products
