Mark Garnier, one of the MPs who called last night's debate on the RDR, says his next step will be to lobby small business minister Mark Prisk about the potential adviser exodus after 2012.
Garnier, who has so far focused on raising the issue with the Treasury on grounds of consumer detriment, says he will now seek to gain extra weight for his argument by citing the importance to the economy of encouraging enterprise.
In his opening speech to last night's debate, Garnier called IFAs "a resource of professionals who will be able to spread the word" on solving the "dire financial situation" many Britons find themselves in.
He told MPs this resource will be decreased considerably unless the FSA reconsiders aspects of the RDR, lowering consumer choice and shrinking a sector which has grown its market share by 36% since 1991.
"Those 30% [of IFAs] against the RDR are suggesting that it would be better to leave the industry altogether and thus the community of IFAs would be significantly shrunk," he told MPs in the House of Commons.
Speaking to IFAonline after the debate, he said having put the consumer case for a rethink of the RDR he will now approach Prisk.
"The next step is to speak to the minister for small businesses, to tell him Britain's economic recovery relies on small business people like IFAs," Garnier said.
Financial Secretary to the Treasury Mark Hoban, who was the government's representative in the Commons debate, rebuffed MPs for trying to take control of regulating the advice industry away from the regulator.
"Its all very well to think about the impact of regulation on certain groups and to give their regulation over to parliament, but parliament may find it doesn't want that role in other situations," he said.
The Treasury Select Committee, of which Garnier is a member, has called for written evidence on the RDR, whether it will achieve its stated outcomes, and whether the outcomes could be achieved in other, potentially better, ways.
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