The Financial Services Authority (FSA) said it is likely to release further guidance on what is required to be independent post RDR after admitting some practitioners still have questions on the issue.
During the final session of the first day of the Personal Finance Society (PFS) conference in Birmingham, Nadege Genetay, head of conduct and redress policy at the FSA, was asked if there would be any further guidance on independence.
"We are aware people are asking questions and we are in fact considering how we can communicate further in this area," she said. "Watch this space. We will try to do something more."
Genetay also said the FSA will assess firms' descriptions of their services after 2012 to ensure consumers are not being misled.
"We are going to have information on the status of firms so we will investigate whether some of the things we are seeing in firms are matching that.
"If we have general concerns like we've had in previous areas, I'm sure there will be some sort of thematic review. We fully intend to look at this as part of visits from next year."
Earlier this year, the PFS released guidelines to advisers on what would constitute independent or restricted advice following discussions with the FSA.
However, the organisation's chief executive has said she is still receiving questions from advisers seeking more clarification on the issue.
The RDR rules set out a new definition for independent advice, which is unbiased and unrestricted, and based on a comprehensive and fair analysis of the relevant market.
It has introduced the term 'retail investment product' into its Handbook - which now includes structured products, investment trusts and UCIS as well as packaged products - to reflect the range of products a consumer would expect an IFA to know.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected