Retail Distribution Review

The Consumer Panel has been working on the FSA's Retail Distribution Review (RDR) for some time as we believe it is one of the most significant developments in financial services regulation since the FSA's inception.

The RDR has the potential to deliver much fairer and clearer advice to consumers who are buying investment products and the Panel is pushing hard to see the RDR fully implemented.

We are continuing the debate with the FSA and others on RDR issues and, in particular, the following:

• Simplified advice
• Platforms

You can read more about our views on the RDR in our position paper [PDF].

In Spring 2011 we also published a platforms position paper [PDF].

 

Input to the Treasury Committee RDR Inquiry

The Panel submitted evidence to the Treasury Committee’s January 2011 RDR inquiry, making clear our support for the RDR and opposition to any further delay with its implementation beyond the end of 2012.

We reiterated our view that the RDR presents an opportunity for independent financial advisers to raise the perceived value of their advice, improve professional standards within the industry, and deliver a range of services and products that meet consumer needs.

We outlined to the Treasury Committee that our key outcomes for the RDR remain:

• the elimination of bias in the market;
• ensuring the adviser is the true agent of the consumer;
• clarity over the costs of advice; and
• appropriate qualifications for financial advisers.

 

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