Dalton Nicol Reid supports MDA review

compliance investment manager chief executive

26 March 2013
| By Staff |
image
image
expand image

Independent investment manager Dalton Nicol Reid has welcomed the regulator's consultative review of the growing managed discretionary account (MDA) sector.

The consultation paper — which was released earlier this month — proposes a number of changes to the guidance and relief for MDA operators, including revoking the two ‘no action' letters relating to discretionary management on platforms.

Dalton Nicol Reid chief executive Harley Dalton said the review would help to ensure the sector remains well-regulated and would provide investors with transparency when selecting an MDA operator.

He added that the guidance ensures that all MDA providers are subject to the appropriate level of regulation, which would help to build confidence in the market.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 weeks ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month 1 week ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 5 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

1 week 1 day ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

1 week ago