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Independent financial advisers can no longer hedge their bets when giving opinions

They are required to give clear and understandable advice to minority shareholders; the recommendations should also not be conditional.

SIAS would also like the authorities to address the concerns of end users of IFA reports regarding the true independence of the IFAs because they are appointed, and their services paid for, by the company.

IN RECENT months, property firm Wheelock Properties and Norwegian shipyard Vard Holdings were subject to privatisation offers that involved seemingly confusing and possibly contradictory advice from the respective Independent Financial Advisers (IFAs) to their boards. If IFAs are to properly...

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