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FSA spokesman Dave Eacott said that although consultations on new initiatives stopped in October, the FSA would need much more time to mull over the proposals and come up with a position.
"We intend to issue a feedback statement toward the end of the first quarter," Eacott said. He added that the FSAs first statement will only address the consultations originally received.
He said that a separate consultation would be needed to address bundling, which is the charging of a single commission to fund managers for trades and research. FSA will also look separately at soft money, the recently controversial practice involving separate fund allocations for "research," sometimes loosely interpreted to mean every back office procedure including purchasing of computers.
Not shockingly, British fund managers have recommended that the FSA not make decisions barring bundling or soft fees, since such regulations would add to company costs.
