n Personal Finance Newsletter - When advisors take the fall : markets




Financial advisors today operate under a raft of legislation, enough to make even the clearest-headed compliance officer as confused as a chameleon on a box of Smarties. First there is the Financial Advisory & Intermediary Services Act (FAIS Act), which was promulgated in 2002 and implemented in full force since 2004. Then there is Treating Customers Fairly (TCF) as well as the Retail Distribution Review (RDR) currently in the process of being rolled out to the financial intermediary industry.


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