Advisers criticised for response rate ahead of RDR

The Consulting Consortium (TCC) says the regulator received less than 100 responses, out of a potential 25,000, to a recent paper, saying similar numbers for the upcoming RDR consultation paper (CP) will be "extremely poor". It is encouraging all affected firms to ensure they let their views be known, either directly to the FSA or through their trade associations. "In a recent CP there were fewer than 100 responses from 25,000 firms," TCC managing director Joanne Smith says. "This is an extremely poor response rate and as a result firms cannot blame the FSA if they end up with the sty...