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New help for firms to get ready for the RDR includes:
Implementation ‘surgeries’
RDR guide: Is your firm on track?
Top questions from the FSA's roadshow
Distributor-influenced funds: The FSA's updated factsheets on distributor influenced funds explain the changes the RDR will bring for those who set up or distribute such funds. These are investment funds where a distributor firm or network has some influence on the investment strategy. There are specific RDR issues with these, as the distributors can currently receive payments in the form of commission from providers for recommending the product and from a share of the fund charge but, under the RDR, should only receive an adviser charge or consultancy charge and should no longer receive any other direct or indirect benefit (including a share of the annual management charge) for their role on a distributor-influenced fund governance committee.
Firms are reminded to make sure they get ready in time to comply with the Statements of Principle for Approved Persons (APER) - view.