Any dilution of the RDR proposals will increase costs on consumers through continued mis-selling, the FSA warns today in a letter to the Treasury Select Committee (TSC).
The letter addressed to chairman Andrew Tyrie from FSA chief executive Hector Sants also states the RDR "will not threaten the availability of good advice" post 2012. It comes in response to the TSC's call for written evidence on the RDR last month. The regulator will submit formal evidence to the Committee before its 27 January deadline, but says in the meantime it wanted to outline why it remains "committed to modernising the industry through RDR". It follows a House of Commons debate on the Review last month, which centred on the regulator's proposals for increased qualification...
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