The FSA has set out an ambitious implementation plan for its new retail distribution strategy, with all firms expected to be fully compliant by the end of 2012 at the latest.
In today's RDR feedback statement, the FSA says both advisers and providers will need to swiftly develop an action plan as the regulator sees 2012 as a 'backstop' to implementation, and wants firms to begin the reforms as soon as possible. In June 2009, the FSA will release a consultation paper to consider an appropriate timescale for a staged introduction of the Retail Distribution Review's (RDR) various proposals. However, many stages of the process have already been mapped out by the regulator, with major changes due to be fully implemented by 2010. Furthermore, Jon Pain, the FSA's...
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