"Thousands of independent financial advisers, and up to half the IFA industry, are predicted to leave the business as a result of a planned ban by the City watchdog on commissions they receive for selling investments. In a radical overhaul of the rules governing IFAs, the Financial Services Authority said yesterday that payments from fund managers and life assurers to advisers would be outlawed in three years. The FSA said it intended to drive "commission bias" out of the system and ensure "recommendations made by advisers are not influenced by product providers". See full report by FT.com HERE for more.

In three years times, the United Kingdom will be banning commissions earned by financial advisers. I think MAS should do likewise too.