RDR Policy: FSA won't provide list of 'retail investment products'

Instead, it will encourage advisers to decide if new products should be included in its definition of retail investment products. This will be done through the introduction of a 'catch-all' to help ensure newly developed types of vehicles are included in the regime in the future. Peter Smith, FSA head of investments policy, says: "The pace of change and innovation makes a list-based approach rather difficult." However, he says as usual advisers can approach the FSA if they have questions as to whether products are included in the definition. To be considered ‘independent' under the...