Are game-changing UAE regulations sinking in yet with advisers?

There will be a massive impact on the financial services industry if the UAE Insurance Authority’s proposed clampdown on fees and commissions comes into effect in 2017, says Philip Cernik, chief marketing officer of Friends Provident International.

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It is not just the Insurance Authority at work here, but in combination with the other key local regulator, the Securities and Commodities Authority (SCA) and the Isle of Man’s commission disclosure requirements on all international life companies based there, he says.

He also gives an early assessment of how financial advisers have responded to the prospect of these changes.

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