Companies have been told it is up to them to make sure any payments are legitimate and in the spirit of RDR transparency.
The FCA wants to stamp out some practices, highlighted in its review, which failed to stand up to scrutiny.
It said advisers and product providers share the responsibility of managing potential conflicts of interests when receiving and making payments under service and distribution agreements.
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An FCA report found payments were still being made that could result in advisory firms favouring one product provider over another, undermining the aims of the Retail Distribution Review.
The FCA has been clear that firms have to comply with the spirit of the RDR, which aimed to increase transparency and professional standards in the investment advice industry.
Clive Adamson, director of supervision at the FCA, said:
"The rules on inducements and conflicts of interest are not new. However our review made it clear there were certain practices that did not stand up to scrutiny."
These practices included:
• Some payments by product providers to advisory firms appeared to be linked to securing sales of their products.
• Financial arrangements in place with product providers that potentially incentivised advisory firms to promote a specific provider's product to their advisers.
• The FCA also identified that certain joint ventures, where a new investment proposition is jointly designed by providers and advisory firms, could create conflicts of interest and potentially lead to biased advice.
Mr Adamson said: "Now it is for firms to make sure any payments are legitimate, are in consumers' interest and that potential conflicts are well managed."
Payments from product providers to advisory firms should be based on reasonable reimbursement for the costs incurred by advisory firms, the FCA said, adding that these should always enhance the quality of service provided.
Companies have to review existing agreements within three months to ensure they comply with the new guidance.

For the full guidance click on this link:
http://www.fca.org.uk/static/documents/finalised-guidance/fg14-01.pdf