The FSA has told the Treasury Select Committee (TSC) any dilution of the RDR will lead to higher costs to consumers through continued unsuitable advice, in a warning to MPs not to meddle with the rule change.
In its submission to the influential committee, which is investigating the impact of the RDR on the adviser community, the FSA says the rule change is "absolutely vital" to build consumer trust and confidence in the advice sector. It also tells MPs the RDR will result in an advice market which is a better place to do business in, and will leave advisers better equipped to give a good quality service. "The RDR is absolutely vital if we are to build consumer trust and confidence in the advice sector. "Any dilution of the proposals will result in an increase in the cost to consumers...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
