Industry rubbishes commission-free concept
Panellists in a fund distribution discussion say it is fanciful of regulators to think banning commissions will cleanse mis-selling. Worse, the cost impact will hit retail investors.
It is unfair of regulators to expect asset management players to operate in a commission-free world and rubbish to think that banning commissions will cleanse the industry of mis-selling, a forum heard.
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