AIFA will address key areas of the Retail Distribution Review (RDR) with a series of issues papers.
The first, entitled The Big Picture, was released today and gives an overview of the RDR process and main issues - as well analysis of specific proposals including Customer Agreed Remuneration, qualifications and capital requirements.
AIFA says these papers form part of its ‘RDR action plan’, “to ensure that the outcome of the Review delivers a better, and not just a different, regime that has clear benefits to consumers and delivers a robust advisory sector”.
“Advisers want to know what the RDR might mean in the short and longer term and what they need to do about it,” AIFA deputy director general Fay Goddard says.
“We plan to produce a series of issues papers to provide a clearer picture and dispel some of the myths surrounding the RDR and the FSA’s proposals."
“Several other discussion papers and an important policy statement were issued around the same time as the RDR and combined; they will have a major influence on future regulation.”
The Big Picture will address:
- Discussion Paper 07/1: A Review of Retail Distribution
- Discussion Paper 07/2: Platforms - the role of wraps and fund supermarkets
- Discussion Paper 07/4: Review of the Prudential Rules for Personal Investment Firms
- Policy Statement 07/11: Responsibilities of providers and distributors for the fair treatment of customers
“It’s a critical time for financial advisers, Goddard says. “The RDR consultation is open until December 2007 and we urge members to get involved and send us their views.”
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