Sesame Ltd, the UK’s largest network of financial advisers, has been fined £1,598,000 by the Financial Conduct Authority (FCA) for setting up a pay-to-play scheme.
http://ift.tt/1tkBglW
Sesame Ltd, the UK’s largest network of financial advisers, has been fined £1,598,000 by the Financial Conduct Authority (FCA) for setting up a pay-to-play scheme. Sesame’s arrangement effectively undermined the ban on commission payments brought in by the Retail Distribution Review (RDR). The pay-to-play scheme meant that the range of products recommended to Sesame clients under its restricted advice service was influenced by the amount of services Sesame had sold to product providers.
http://ift.tt/1tkBglW
Sesame Ltd, the UK’s largest network of financial advisers, has been fined £1,598,000 by the Financial Conduct Authority (FCA) for setting up a pay-to-play scheme. Sesame’s arrangement effectively undermined the ban on commission payments brought in by the Retail Distribution Review (RDR). The pay-to-play scheme meant that the range of products recommended to Sesame clients under its restricted advice service was influenced by the amount of services Sesame had sold to product providers.
FCA fines Sesame Ltd for pay-to-play arrangements
0 commentaires:
Enregistrer un commentaire