Richard Tall discussed why financial advisers should reassess their firms' compliance with the Markets in Financial Instruments Directive (MiFID II) to avoid scrutiny. In the Ft Adviser article, Tall explained his prediction that the regulator will take a negative view of firms who are not passing back product rebates to clients.
"A direct cost, such as an adviser charge, is easy to define as it is a fixed sum. The bit that people are going to struggle with, is where there are payments being made to the adviser firm by way of discounts, or rebates, and that is where people are going to fall over." richard tall, ft adviser