Financial advisers unhappy with Central Bank initiative

Proposals published late last month by the Central Bank aim to clamp down on commission payments to financial advisers and make financial advice more transparent for consumers, but the regulator is likely to face some resistance from the financial services industry.

Under the new proposals on how financial intermediaries should be paid, certain types of commission and other inducements would no longer be allowed.

The regulator wants financial advisers to make it clear to consumers...