Sure. But one does wonder. The "reforms" intended to remove conflicts in financial advise have been dragging on for a long time. Depending on what the RC recommends, I wonder if there is a chance that it will become politically untenable for governments not to legislate for a complete separation of the advice function from the product function.
I note @madamswer's comments about the low likelihood of this sort of outcome, which I kind of agree with. But then, a government pandering to a public, that's out for blood, is going to have a hard time ignoring a RC recommendation, extreme as it may be (if that's how the RC pans out).
And I keep thinking about the many years of FOFA's and what not, and I sense that the general public will perceive that many years of reform have delivered SFA (rightly or wrongly), and that the softly-softly approach has run its course.
I wouldn't want to be the politician that says to the public "Just keep putting up with bad/conflicted advice, because the alternative will be too costly".
I'm happy to estimate/price a whole range of business risks. Political/legislative risk - not so much.
IFL Price at posting:
$8.54 Sentiment: None Disclosure: Not Held
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