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FSA&#39s big two looking at future of retail market

The two new chiefs at the FSA are to publish a report early next year on how the FSA sees the retail investment market shaping up in the future, it was announced at the Money Marketing Live conference in Manchester on Tuesday.

FSA director of investment firms David Kenmir said that new FSA chief executive John Tiner has been working on a document that examines how regulation and reform is changing the face of IFAs and the retail investment market.

He said recently appointed FSA chairman Callum McCarthy had also shown a keen interest in the project that will be published early next year.

Kenmir said: “The FSA is in a unique situation where it is constantly talking to IFAs, trade bodies, the press and Government. We also have an amazing wealth of data and information on the industry. This project will provide an interesting and informed perspective on where the retail investment market is heading.”

The FSA is also setting up a financial skills taskforce in a bid to boost consumers&#39 capability and confidence in dealing with providers and products.

Chief executive John Tiner told an audience in the City of London on Tuesday night that private and public sector body efforts to educate consumers need to be co-ordinated around a national strategy for financial capability. He said he would establish and chair an advisory group by March 31 next year to determine the best way forward.

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