The Association of IFAs (AIFA) has accused the FSA of giving greater weight in the Retail Distribution Review's proposals to bancassurers and product providers.
Chris Cummings, director general of AIFA, and Fay Goddard, deputy director general, said the regulator appears to have been “selective” in its proposals, adding “certainly some of the larger players had the loudest voices”. This was despite confirming they were happy with the make-up of the RDR discussion groups, who formulated the proposals in the review. The fears were raised during an online chat organised by AIFA with financial advisers, who spent 45 minutes asking Cummings and Goddard their views on a range of issues. The first question posted for the duo asked: “The FSA [has] trump...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes