9th August 2013

CEI Compliance completing the RMAR sections K & L

In November 2012 The FSA published its new data reporting rules for Retail Mediation Activities Return (RMAR) forms. 
 
The new rules are part of the regulator's plans to extend the transactional data it receives via product sales data by collecting extra information from firms via the twice-yearly RMAR forms.
 
Following a consultation in May 2012, Firms will need to record the charging structures in the original proposals (per hour and percentage of investment) and also structures where charges are based on a fixed fee or a combined adviser charging structure and the FCA will require firms to indicate which charging structure is typically offered for both initial and ongoing advice charges.
 
Many declared the tool unworkable and greater clarity was needed. Collecting a raft of these criticisms and questions, the FCA were approached to provide answers and they promised to respond as quickly as they could.
 
Questions were posed regarding the RMAR sections K & L and their correct completion and the FCA provided a response which will hopefully help answer any outstanding queries you may have. Download the PDF for FREE here.

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