Hopes the FSA will delay the introduction of the RDR have been quashed with the announcement one of its replacement entities, the Financial Conduct Authority (FCA), will not come into being until 2013, IFA Alan Lakey says.
The FSA's restructure into the Prudential Regulatory Authority (PRA) and Financial Conduct Authority (FCA) was due to take place in 2012 but, in its recent business plan, it said this could be pushed back to "early 2013". The RDR will be introduced on 1 January 2013. "The fact the FCA will not be established until after RDR removes a potential avenue where we might have circumvented current thinking," Lakey, the founder of lobby group Adviser Alliance, says. "There was potential for the FCA to look at RDR and see it is skewed and maybe rethink and postpone it, but now that potentia...
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