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FSA encouraged by progress

The FSA says it is encouraged by the progress firms are making in the RDR transition.

At the launch of Aifa’s RDR report, FSA head of investments policy Peter Smith said he has seen firms and individuals making an effort to prepare for the RDR. He said: “What I do think is encouraging is the extent to which we know firms are already preparing for those changes.

rom our own discussions with firms and from the results of surveys like the one we did recently with NMG, many firms and individuals are making the preparations that are necessary to be ready for 2013.

“It will not surprise you that, in our view, you cannot start too early. Please do not wait for something to happen, because you may leave it too late. Take the initiative and start planning for these changes, which many firms are doing already. There are fewer than 600 working days until January 1, 2013. Start making your preparations for that day and let’s all get on with it.”

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