Euro-style RDR should wait five years - AIFA

The trade body says any Euro-wide review should wait until the impacts of the Insurance Mediation Directive (IMD) and Markets in Financial Instruments Directive (MiFID) are fully realised. The European Commission has called for evidence on how well the European retail financial services market works and the reasons why consumers buy the investment products they do. However, AIFA director general Chris Cummings says the EC should not rush into further regulatory change. "The impact of the IMD is yet to wash through the European market – and the MiFID has only just been introduced,” he say...