Lord Lipsey has resigned from the Financial Services Consumer Panel (FSCP) after six months in the role and just days after criticising aspects of the Retail Distribution Review (RDR).
The FSA says his decision to step down as chairman has nothing to do with the outcome of the RDR or his stance on some of the more controversial aspects of Tuesday's feedback statement. Speaking at an RDR conference this week, Lipsey described the sales advice model as 'a nonsense' and criticised the FSA's interpretation of European regulations. A spokesman for the regulator denied Lipsey was forced to resign due to his opposition to the FSA's plans for tied advisers. Rather the move appears to have been as a result of disagreement over the role of the FSCP. Lord Turner, chairman of...
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