FSA is consulting on changes to its rules to reflect RDR Adviser Charging and to provide better information in relation to pensions. The paper covers:
- changes to the key features illustrations (KFIs) that firms are required to provide to clients arising from RDR rules on Adviser and Consultancy Charging;
- disclosures in relation to personal pension schemes; and
- the potential replacement of monetary projections by inflation-adjusted projections for personal and stakeholder pensions (both individual and group) on which FSA plans to consult further later this year.
The paper contains draft new rules that would amend mainly COBS. It asks for comments by 3 May. (Source: CP 11/3**: Product disclosure: Retail investments – changes to reflect RDR Adviser Charging and to improve pension scheme disclosure)