MPs are being urged to give the FSA time to get the Retail Distribution Review (RDR) right, rather than completing it quickly.
David Lipsey, chairman of the Financial Services Consumer Panel (FSCP), has written to John McFall MP, chairman of the Treasury Select Committee, to outline his concerns. Speaking today, Lipsey says: “Good progress is being made by the FSA on developing a future system for financial advice which is free from commission bias – but it remains more important to get it right than to get it quickly. “The FSA must be confident that the impact of any changes will improve the situation for consumers and be workable by the industry.” Lipsey outlined five key issues within the RDR which the FSA ...
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