FSA clarifies thinking on using panels post RDR

Scott Sinclair
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The man leading the FSA's RDR team today said firms will need to demonstrate to the regulator they are "constantly reviewing and refreshing" the products on their panels.

Richard Taylor, manager of the FSA's retail distribution team, said he expects most businesses will continue to select products from a panel after 2012 but said firms would need to "have some way of showing" they are keeping it up to date. In an RDR update to members of the Institute of Financial Planning (IFP) in London this morning, Taylor also said the FSA expects firms to document if the final charge to clients fails to match the amount agreed up front with the customer. In this instance, and where the FSA becomes aware of it, firms may be asked to explain and justify why the two ...

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