FSA may claw back soft commissions
Fund managers accepting soft commissions from service providers may be forced to 'dip into their balance sheets' and pay back the softed amount, with potentially disastrous consequences, according to a compliance expert.
Scott Wilson, managing director of IMS Consulting, said managers faced 'potentially huge liabilities' if the Financial Services Authority decided the soft commissions should not have been taken in the first place.
'If it not a softable service the authorities can ask you to
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