Steve Young: RDR just a 'staging post' before more regulation

STEVE YOUNG

Nicola Brittain
clock

In this blog, Sense Network's commercial director Steve Young argues that for the Financial Conduct Authority (FCA) to achieve its end goal of improving customer outcomes, it will inevitably need to intervene further in the financial services market.

"Sometimes in life you have to look beyond rules, norms and custom in order to see clearly why we do things the way that we do. For the first few years of the M1, there were no speed limits, probably because most cars of the era were simply not capable of very high speeds. It was a series of high profile incidents involving powerful cars conducting speed tests which finally alerted the government to the dangers of the growing motorway system and the 70mph limit was born. The origins of financial conduct regulation lie in mis-selling scandals of the 1980s and the subsequent Gower re...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA warns on 'poor' advice consolidation practices

FCA warns on 'poor' advice consolidation practices

Including on debt and incentives

Sahar Nazir
clock 31 October 2025 • 3 min read
FCA urged to 'think again' on targeted support annuity rules

FCA urged to 'think again' on targeted support annuity rules

Regulator’s MoneyHelper signpost criticised as a ‘real limit’

Isabel Baxter
clock 03 September 2025 • 2 min read
FCA continues data reporting cuts

FCA continues data reporting cuts

Regulator removes more data returns

Isabel Baxter
clock 28 August 2025 • 1 min read