RDR: AIFA attacks all major proposals

The trade body says the regulator has squandered advances made in the RDR Interim Report and believes the new proposals will only hinder consumer clarity. It adds the FSA's "recent compromises" are based on a flawed interpretation of MiFID and many of the proposals will bring increased costs to firms. "The FSA had a golden opportunity to revitalise trust in financial services at a time when consumers need our help the most," AIFA director general Chris Cummings says. "But the new proposals perpetuate historic flaws in financial services. "Consumers want clear blue water between those ...