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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.