The feedback statement was due to be published in October but the FSA says, in light of the appointment of Jon Pain as managing director of retail markets, the statement is being moved back to November to enable him to “fully engage with the process” before delivering the next stages of the RDR.
FSA chief executive Hector Sants says: “The RDR is one of the most significant projects in the retail agenda and the intention is that it will bring about lasting improvements for consumers and firms in the retail investment market. We anticipate no slowing down of the overall programme of work.”
Aifa says it is critical that Pain takes time to fully understand the issues and proposals. Pol- icy director Andrew Strange says: “We believe this addit- ional time gives Jon the opportunity to engage with key stakeholders and we look forward to meeting with Jon to explain the Aifa position.”