The latest version of the Remuneration Statement Standard (v1.3) has officially been published - bringing significant improvements to how adviser fees and payments are reported across platforms, providers, and back-office systems.
This updated standard continues to support the industry's drive for greater transparency, efficiency, and consistency in remuneration reporting. By aligning how payments are communicated, it helps:
- Reduce paperwork by streamlining statement delivery;
- Simplify reconciliation for advisers, saving valuable time;
- Ensure accuracy in the data shared across systems.
What’s new in version 1.3?
The headline enhancement is the addition of a new remuneration type: investment adviser charge. Although this charge has been in use since 2011, it was not previously represented as a distinct category in the standard. Its inclusion now ensures:
- Clearer categorisation of payments;
- Improved consistency across platforms and providers;
- Reduced risk of misinterpretation in reporting.
Alongside this, existing definitions, business rules, and dependency notes have been updated to reflect the new remuneration type, ensuring the standard remains robust and relevant.
Built through collaboration
These updates are the result of a structured governance process, driven by real-world feedback from users, implementers, and working groups. This collaborative approach ensures the standard evolves in line with operational, regulatory, and market needs.
Looking Ahead
With the comment window now closed, the new version (v1.3) has been formally released. Organisations can begin implementing the changes to benefit from the enhanced clarity and efficiency the updated standard provides.
If you would like to find out more about this standard, then please contact [email protected].
