In a move that most would see as self-evidently the right way forward, the FSA says that it is looking at capping commission paid to intermediaries.  I shall have to declare an interest because I am unequivocally opposed to commission for the sale of financial products but, unfortunately, restricting it is fraught with problems.  The FSA cannot, for example, restrict competition nor can it destroy an industry over night but it does seem to recognise that we will not get the financial services industry and the advice we need and deserve without a radical change to its structure.

Reducing commissions and ensuring that some products are not unfairly favoured over others would certainly be a step in the right direction even if most of us would want it to go further.