The IIB is to urge the Treasury to intervene over the FSA’s investigation into commission transparency.

The trade body is gearing up to tackle Treasury officials and MPs at the IIB’s annual reception at the House of Commons next month.

The institute’s directors were hoping to further their argument that mandatory disclosure was “unnecessary”.

It hoped that Treasury officials could influence the FSA’s decision, which is likely to be announced by the end of the year.

IIB director Bryan Whicher saidhe expected Treasury delegates at the reception. He added that the regime the FSA was looking to bring in was “very complicated and unnecessary”.

Steve White, regulation and compliance manager at Biba, said the body had been monitoring the situation since the FSA first started looking into the issue.

He said: “Our position was explained vigorously and in great detail.

“We are looking to keep our options open and we would be surprised if [the FSA] finds in favour of mandatory disclosure.”