View more on these topics

David Severn – from the regulator to the relegated REGULATED

David Severn was head of the policy
division at the PIA and has been at the FSA since its inception,
occupying the same role although his title has changed during that
period. He is currently head of retail investments policyJanuary
2001FSA proposes widening customer product choice. A review of
polarisation headed by Severn is launched considering lifting
restrictions for the sale of stakeholder pensions, Cat-standard Isas
and direct-offer financial promotions pushing productsOctober 2001 –
Severn questions practicality of multi-ties at FSA open meeting on
polarisationJanuary 2002FSA U-turn axes polarisation after review
headed by Severn. Defined-payment system ditching commission and
forcing up-front disclosure of fees by advisers wanting to retain
independent status is revealed and widely criticisedSeptember
2002Severn says he wants to drop defined-payment system if a more
palatable alternative can be foundOctober 2002FSA drops
defined-payment system for Aifa’s menuJuly 2004Severn heads
fundamental review of projection ratesDecember 2004Severn is
appointed as new director general of Aifa to start in February



Will you change your commission rates as a result of the publication of a market-average rate?”No. To a large extent, my commission is set by my network. I do not think I will have to make many changes.” Brian Kilburn, Brian Kilburn Financial Management”No. When being an IFA is a very small part of your […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm