Lighthouse: FSA should stagger RDR deadline

Joint chief executive Malcolm Streatfield described the RDR’s 31 December 2012 cut-off as “an arbitrary deadline”, but said it would be appropriate for new advisers. Intermediaries who have been regulated for less than ten years but who have a blemish-free record should be given an extended deadline, while those practicing trouble-free for more than a decade could be given longer still, he said. “If that had been the mantra, there would not have been a problem,” Streatfield added. “I do not have an issue with the increase in minimum qualifications, but I do with this arbitrary dead...