“Dilution of the IFA sector cannot be in the interests of the financial sector”
Regulatory reform costs of the former regulator, the Financial Services Authority (FSA) more than doubled in the last year of its operation and could in future be levied on firms, the FSA annual report has revealed today.
Lord Adair Turner has said one of the major flaws in the regulatory structure which failed to avert the financial crisis in the UK was the FSA was "asked to do too much".
The Association of Independent Financial Advisers (AIFA) has hit out at "spiralling" fee rises from the Financial Services Authority (FSA), Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS).