Colin Wilcox, Spokesman of FSA’s retail intermediaries’ supervision team, said that it would not be easy to remain independent after the RDR, but added that IFAs were capable of meeting the increased work load.
Wilcox further added that the FSA did not expect advisers to know everything about every product, but rather have in depth knowledge of product types.
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He also reiterated the idea that the regulator is set to imminently clamp down on the sale of unregulated collective investment schemes.
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