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FSA will look to loan and protection implications

Outgoing FSA chief executive John Tiner says the retail distribution review must cons-ider the implications of its conclusions on areas such as mortgages and protection.

Speaking at the FSA’s ann-ual public meeting in Lon-don last week, Tiner reinforced the fact that the RDR is restricted to pensions and investment in response to the perceived market failure the regulator has identified in this area.

But he said as the RDR is taken forward, the FSA will have to consider the impact of wholesale changes to the distribution landscape on other product lines such as mortgages, protection and general insurance.

Tiner said: “Whenever one looks to improve the und-erlying dynamics of the marketplace, and in taking the retail distribution review forward, the FSA will have to take into consideration the implications for other products and components of the consumer distribution channel. It is self-evident and we are very aware of that.”

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