The Remuneration Statement Standard ensures that advisers, platforms, and providers are aligned on how fees and payments are reported. The standard is used to provide advisers with information about the payments made to them. This helps:

  • Reduce the volume of paper statements being issued;
  • Advisers reconcile their payments, reducing the time taken to do this;
  • Ensure accuracy of the information provided.

Several change requests have been raised to enhance this standard, and we plan to implement these updates in a new XML version. 

Addition of new remuneration type: investment adviser charge

A request was made to introduce support within the Remuneration Standard for an additional category of remuneration - investment adviser charge to ensure the standard reflects today’s remuneration practices – despite it having been in use since 2011. By adding ‘investment adviser charge payment’ as a distinct remuneration type, the standard will more accurately capture the nature of remuneration payments and allow for clearer categorisation across platforms, providers, and back-office systems. This will improve reporting consistency and reduce the risk of misinterpretation. 

The Remuneration Standard already covers remuneration types of adviser charge, consultancy charge and commission. As well as the addition of the new data, the change involved updating some existing definitions, business rules and dependency notes within the standard to reflect the addition of the investment adviser charge. 

Keeping the standard relevant 

These proposed updates are part of our structured governance process for managing and evolving industry standards. Changes are raised by users, implementers, or working groups who identify gaps or opportunities based on real-world usage.

This collaborative, transparent approach ensures the standards stay fit for purpose, balancing operational efficiency with regulatory and market needs.

Opportunity for further input 

There is now a window until Friday 8 August to allow for comments on the documented solution. If no comments are received, then a new version of the standard (v1.3) in line with the documented changes will be published.