| 单词 | polarization |
| 释义 | polarization polarization The distinction enforced by the Financial Services Act 1986 between intermediaries who give advice on investments and act as a representative of one company (a tied agent) and those who are fully independent and able to advise on the full range of products offered by different companies (seeindependent financial adviser). This polarization was intended to end confusion amongst consumers and to remove any doubts about the impartiality of advice provided by independent intermediaries. However, owing to the costs associated with maintaining a fully independent status, the majority of high-street banks and building societies became tied to one particular company, prompting concerns over the limited consumer choice available at the retail level. For this reason, new regulations introduced in late 2004 enabled advisers to be ‘multi-tied’, i.e. to advise on products from a limited range of companies (a change sometimes referred to as depolarization). |
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