multi-asset

We round up the best tweets as the Treasury Select Committee grills Hector Sants and Sheila Nicoll of the FSA.

Consumer watchdog Which? has called on the FSA to get rid of the ‘restricted adviser' label and replace it with ‘sales representative'.

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.

The FSA is consulting on exempting Holloway products from RDR fee-based payments, but the devil is in the detail as the exemption would not apply to all products.

Peter Chadborn believes the Retail Distribution Review (RDR) may provide an opportunity for advisers to secure clients that banks cannot afford to service.

The Association of Financial Mutuals (AFM) has welcomed the FSA's exemption of Holloway protection products from the Retail Distribution Review (RDR) but said the ‘limited' concession does not go far enough.

The FSA is set to extend the list of RDR-ready qualifications with the addition of three possible routes, including one work-based assessment.

IFAs have been told they must make significant changes to their businesses over the next 12 months if they want to be prepared for RDR.

The release of internal research by the FSA outlining the correlation between qualifications and better advice has been delayed, despite calls for more evidence on the issue from MPs.

IMA chief executive Richard Saunders has hit out at the FSA for inconsistencies in its RDR proposals, saying the regulator is ‘rolling the dice'.