The FSA has said it would support whistleblowers coming forward to report on providers or adviser firms trying to exploit the changes proposed under the RDR.
Dan Waters, FSA director of retail policy and themes, said the new regime will demand a different supervisory approach which will be more demanding and intrusive. The regulator said in its RDR Consultation Paper out today that it would crack-down on firms ‘exploiting' the changing remuneration practices introduced by the RDR. It says when the rules come into effect, and during the transitional period ending on 31 December 2012, it will take the necessary action to deter firms from frustrating the intended market outcomes. The implementation of the Adviser Charging requirements will...
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