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Comments
Reinventing the Wheel
Whilst I do not normally take indemnity commission I can see the use of this, so an industry-wide factoring scheme is not an unwelcome initiative. At the end of the day though it is merely a reinvention of the wheel and no doubt a reinvention that will cost advisors more whilst generating more income in the form of interest for the banks. The FSA simply needs to be pragmatic and to allow providers to factor as per the existing arrangements.
Posted by: Neil F Liversidge