Treasury confirms watchful eye over passporting post-RDR

In a written question, Liberal Democrat peer Lord Dykes asked the government what discussions it had had with the European Commission on adviser firms registered in other European countries transferring into the UK and providing financial advice without having to comply fully with the requirements of RDR. Lord Sassoon, commercial secretary to the Treasury, replied: "The European Union's passporting criteria, which govern the ability of firms to offer services outside their home member states, are not affected by the RDR. "Where a firm passports into the UK, it will be subject to the r...