View more on these topics

FSA announces distribution review group chairs

The FSA has announced its full line up of industry figures who will lead the five committees which are part of the retail distribution review.
HBOS chief executive insurance and investment division Jo Dawson will head up the sustainability of the distribution sector committee and Royal London chief executive Mike Yardley will chair the impact of incentives group.
Thinc Group group corporate director Roderic Rennison will lead the professionalism and reputation committee and Aegon chief executive Otto Thoresen will chair the consumer access to financial products and services group.
The final committee looking at regulatory barriers and enablers will be run by FSA director of retail policy Dan Waters.
The FSA says the role of each industry group is to reach broad consensus on the issues to be addressed, identify both industry solutions and key barriers to delivering these solutions and engage the distribution market to achieve these solutions.
FSA managing director of retail markets Clive Briault says: “The Retail Distribution Review will act as a catalyst to improve the efficiency of the distribution of retail investment products and achieve better outcomes for consumers as a result. The appointment of industry leaders is an important step forward in achieving that.

The industry has serious challenges to face from economic and market pressures as well as from complying with regulatory standards. The review will consider the bigger picture and the five priorities will not be viewed in isolation. We favour market solutions and are looking to facilitate an industry-led outcome”

Recommended

Tiner resigns

FSA chief executive John Tiner is to step down in July after six years with the regulator and is aiming for a post in the private sector.Tiner joined the FSA in April 2001 as managing director of the consumer, investment and insurance directorate and was appointed chief executive in 2003.Tiner says: “By the time I […]

Barnes takes up CEO title at BestInvest

BestInvest has announced the appointment of a new CEO today with founder and controlling shareholder Nigel Spiers passing over his responsibilities to newly recruited Andrew Barnes.

AVC quandary for pension victims over buyback deal

Victims of wound-up occupational pension schemes are being asked to sacrifice AVCs if they want to benefit from the Government’s deemed buyback benefit and are finding it impossible to get advice on the subject.The deemed buyback option was highlighted by pensions minister James Purnell last year allowing qualifying members to have their ben-efits reinstated into […]

DWP isn’t for U-turning

I note the news item about a so-called U-turn on protected rights but believe it is incorrect (Money Marketing, January 11). When I was on the Association of Member-Directed Pension Schemes committee (I retired in August 2006), I led discussions with the Department for Work and Pensions and have continued to lobby for the DWP […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment