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16 July 2011

IFAonline: FSA responds to TSC's RDR concerns


The Treasury Select Committee (TSC) has called for a 12 month delay to the RDR to enable more advisers to reach Level 4, among a series of other concessions, but the FSA has flatly refused any negotiation on a change to its plans.

In the TSC's report on the RDR out today, MPs said pushing the implementation of the RDR back to 1 January 2014 could increase the number of firms and advisers making the transition to the new system, and avoid an advice gap. The TSC - which called the FSA's case for Level 4 "weak" - also recommended the FSA provide for flexibility for the "grandfathering in" of advisers on a case by case basis.

However, in a statement the FSA said it remained committed to implementation from January 2013.

Full article


© Incisive Media Investments Limited

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