FSA: No more commissions for financial advisers

Breaking news from the FT reads:

Financial advisers are to be banned from receiving commission for selling investment, pension and life assurance products from 2012, under radical new rules announced by the Financial Services Authority.

Investors get the option of either paying for advice fees up front or deducting it from their investment.

Read more HERE.

It’s either I’m not getting enough European news or their system really are just more welcoming with legislations that interfere with capitalism. This one just came in so we still have to see a few moments to see what the reactions would be towards this. Not that there’s much they can do.

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