View more on these topics

RDR CP: FSA estimates £430m compliance cost of RDR

The FSA estimates that incremental compliance costs relating to the implementation of the retail distribution review will be £430m as a one-off cost and £40m a year.

In its consultation paper released today, the FSA has estimated that the direct cost of implementing the RDR will be £2m one-off and £1.2m annually.

It says there may also be short-term costs arising from market exits by advisers and increases in product prices.

In a separate paper also released today, research by Deloitte for the FSA found that directly authorised firms expected the one-off costs of compliance per adviser to be £4,567. Annual ongoing costs of compliance per adviser were estimated to be £3,321.


Recommended

Principle buoy

Ethical funds have always inspired debate in the financial industry, with opinion divided or whether they can stand up on investment as well as moral terms.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment