Ron Sandler's consultation document was published today regarding retail savings which according to ...
Ron Sandler's consultation document was published today regarding retail savings which according to Chancellor of the Exchequer Gordon Brown, will examine what drives the industry.
The review addresses two key areas of concern. Firstly, whether the consumer is being well served with products that are low cost and offer attractive returns in relation to risks involved. Secondly, it addresses whether the incentives for investment performance that operate in the industry lead to an effective allocation of capital.
Sandler and his team's work will involve the industry, Government and regulators. Sandler explained: "I intend to work closely with these various initiatives to ensure that our efforts are complementary rather than duplicative or contradictory."
Brown commented: "The work that Ron Sandler is undertaking is the next important stage, in the process of reviewing the efficiency and flexibility of the savings and investment industries. Working closely with the FSA Sandler will examine the forces and incentives which drive the retail savings industry and its approach to investment to see whether resources are being allocated efficiently and whether consumers are being well served."
The Department for Work and Pensions secretary Alistair Darling said: "Sandler will be looking at ways in which the customers can make more informed choices by having greater transparency and openness and as a competitive a market as possible."
Comments to the Sandler review team can be emailed to [email protected], by post to The Sandler Review Team, Room 316A, HM Treasury, Allington Towers, Allington Street, London, SW12 5EP or by fax on 020 7270 1391.
Further information and a copy of the consultation document can be obtained from www.hm-treasury.gov.uk or by phoning 020 270 4660. The consultation period ends 28 September.
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week
From 8pm Friday 19 October