FSA Would Ban Commissions

On the heels of President Obama’s June 17 plan for financial re-regulation in the U.S, the Financial Services Authority (FSA)–which regulates financial services in the UK–proposed on June 25 a ban on brokerage commissions, as well as other provisions intended to “build people’s trust and confidence in the retail investment market.” This is all part of the UK’s plan for re-regulating investing for retail clients, and part of the global reformation of financial services that is coming out of the economic crisis. Read the announcement and entire plan, here.