The ABI has said that it is not seeking a ban on adviser commission as was reported by Money Marketing on 26 April.
Money Marketing website had reported that the ABI was calling for FSA regulation to stop product providers from paying commission to advisers for the provision of advice about investment products.
Alan Leaman, director of communications, was quoted responding to the story: “Your recent headline does not represent the ABI's policy: the ABI is not seeking a ban on commission. The article was based on an out-of-date and internal ABI discussion paper.”
