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”