RDR: FSA to up scrutiny of individual advisers

In its latest RDR consultation paper, published today, the regulator proposes collecting more data on individuals in a bid to meet its consumer protection goals. This could include using product sales data (PSD) returns submitted by provider firms matched with the adviser's individual reference number. Currently, providers do not keep a record of individual advisers selling its products so the FSA may ask adviser firms to submit advisers' reference numbers to providers. While supervisory activity has previously focused on firms and individuals, the regulator says it will now focus ...