RDR

The TSC has attacked the FSA for failing to take into account age and length of service in its RDR proposals and called for a special package for older advisers.

FSA bosses have assured MPs they have no current plans to raise qualification requirements above level 4 after the RDR deadline.

The FSA has defended its stance towards the commission ban but conceded the new charging structure could still be biased.

The FSA says it will put in place a post RDR programme to monitor levels of consumer trust in advisers.

FSA chief executive Hector Sants has told the Treasury Select Committee (TSC) the RDR is not designed to bridge Britain's savings gap.

It took a while, but the past six months have seen politicians in Westminster finally take note of RDR and the way it may impact advisers and consumers.

Mark Garnier has insisted only the FSA can change the course of RDR, despite the interventions of politicians and ministers.

Advisers must pass a one-day 'professional discussion' on four case studies and a technical interview to reach QCF Level 4 via the CII's alternative route, launched today.

The FSA's top brass is primed for a final face-off with the Treasury Select Committee (TSC) on the RDR next week, and advisers want MPs to hit the regulator with its fiercest interrogation yet.

Outsourcing investment decisions has become a popular trend in the run up to RDR. Yet plenty of advisers are eager to keep control of this part of their business.