Retail Distribution Review
May 2nd, 2008 Posted in NewsThe FSA has this week released an interim report on their Retail Distribution Review, this interim review sets out the FSA’s current thoughts on the future distribution of financial products in the retail sector. The review follows a lengthy consultation and feedback from the industry and covers regulated products from life insurance right across the board to complex investment products The FSA are looking to make a clear distinction between advice and sales, the suggested approach is for the financial market to split into three simple parts advice, sales, (non advised) and Money Guidance. On the advice front advisers would need to operate on a whole of market basis and would require a higher level of qualifications than at the present, non advised sales would be broken down to guided sales and execution only sales and money guidance is a newly proposed information and guidance service and would not be regulated by the FSA. The FSA intend to publish a full feedback statement in October 2008 with a timetable and transitional arrangements
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