RDR proposals lean towards banks and providers - AIFA

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] tr...