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The only sensible decision is to delay Code implementation to coincide with the start date of the new disciplinary body.

The Code was designed to work in conjunction with a Code Monitoring Body. With that element now abandoned, the Code needs to be rejigged to align with a very different style of regulator whose structure is still being determined. In the interim it will also be an opportunity for FASEA to consider the real world impact of the Code on consumers and advisers, and provide clear guidance. FASEA has clearly failed in those areas so far, so a delay may be the opportunity they need to do their job properly.