U.K. Watchdog Reveals New Adviser Fee, Platform Rules

Law360, New York (August 2, 2011, 7:54 PM EDT) -- The U.K.'s Financial Services Authority on Monday unveiled new rules requiring independent financial advisers to disclose fees they receive for steering clients to certain funds.

The new rules, part of Britain's wider retail distribution review, also call for platforms and other nominee companies to transfer, within a reasonable amount of time, customer assets to other entities upon request, according to an agency statement.

"The rules published today are designed to enable consumers to understand the services they are being offered by investment firms, and what they...
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