Dalton Nicol Reid supports MDA review
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.
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