We have taken advice from leading compliance expert Lee Werrall. His observations regarding the service that we provide to our community are as follows:
FCA - FG14/1 - Supervising retail investment advice: inducements and conflicts of interest.
Panacea Advisers is not an advisory, regulated or authorised firm and does not make any personal recommendations in any form, therefore the FCA's Conduct of Business Rules regarding inducements rules and Principle 8 do not apply. Panacea Adviser is not a financial services company, firm or organisation. Nor does it have anywhere within the same group, any interest in manufacture or distribution of it's own retail investment products.
The inducement rules contained in COBS 6.1A do not apply.
Additionally, any charge payable by or on behalf of a provider firm to Panacea Adviser is a commercial arrangement only and does not constitute or reflect any consultancy charge or remuneration as defined in COBS 6.1C.
Panacea Adviser does not provide any services or other benefits for the benefit of an advisory firm other than provide information in the same way as the trade press or any other social media site.
Panacea Adviser does not charge for it's services and provides a resource that supports advisers, mortgage brokers and paraplanners in running their businesses more efficiently, facilitates contact with providers and helps improve their service to clients. Should Panacea Adviser charge for a service these would be costed and funded commercially and not sponsored, discounted or funded by financial institutions or providers in any way.
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