Another outcome of the FSA’s RDR position is that the Statement of Professional Standing must include, every year, a declaration that the individual adviser has complied to a code of conduct, as well as a record of any disciplinary issues.
The FSA noted in a previous CP that “we see value in having codes that explain in more detail how ethical behaviour applies in different roles and sectors, so we encourage advisers to turn to their professional body for help and support.”
“The ethical aspect of the RDR is imperative to regaining consumer trust and confidence in the industry.”