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FSA delays RDR feedback statement

The FSA has announced that it will delay publishing feedback on the RDR discussion paper until November.

According to the current FSA timetable, a feedback statement was due to be published in late October.

The regulator 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.

The feedback statement will include the full feedback received during the discussion period along with the FSA’s decisions on the future implementation of any regulatory changes coming out of the RDR and the timetable for formal consultation on those changes.

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.

“Rightly, Jon Pain views this important piece of work as one of his key responsibilities and wants to ensure that he is fully involved in shaping its delivery. Therefore, as Jon only joins the FSA in early September, we have agreed that it is right for the feedback timetable be moved by a few weeks. We anticipate no slowing down of the overall programme of work.”

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