29th June 2013, 11:52 AM
Unlawful in my opinion. The credentials provided by the IFA are not formally recognised. The same standards could be achieved without membership, or by being a member of another association with the same standards. As with most things in common law, it would be how it is interpreted by a court of law but if I were to form another body with the same standards, also not formerly recognised then barring my members on a point of membership choice is an anti-competative restriction. I don't think IFA standards count for a lot in practice.