[Weekly Wrap] What does DIMS really stand for?

I’ve see a few descriptions recently but have decided that it means Did I Miss Something – a question, no doubt the FMA has been asking itself since the David Ross scandal broke. I understand there were some other suggestions at the Grosvenor roadshows on alternative definitions.

But seriously there is little doubt that DIMS is one of the biggest challenges facing advisers at the moment. We have been trying to find out where things are at. It appears to us that the December implementation date won’t be met, and that some transitional arrangements will be used, rather than forcing all advisers to make the changes on a set date.

One question we keep asking is whether the new leadership at the FMA will listen to what IFA’s have been saying.

During the week I read this speech and have to really wonder why the FMA takes the view that "financial advisers remain a priority for us".