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RDR feedback statement to be published middle of next year

The Retail Distribution Review feedback statement will not be published until the second quarter of next year, the FSA said today.

Speaking at Osney Media’s financial services distribution summit in London today, the head of the FSA’s retail distribution review Amanda Bowe said the FSA’s response to the feedback received from the industry on the discussion paper will not be out until the second quarter of 2008.

Bowe said the Feedback statement would set out the “route-map” for consulting on how the FSA might implement the changes that it then proposes.

Bowe said that so far, the FSA has received around 100 individual responses with a variety of reactions ranging from embracing the ideas in the DP to “rubbishing” the proposals.

Bowe said: “Some have embraced the paper, whilst others are understandably more cautious; some are rubbishing the whole paper in some cases apparently without having read anything other than a few headlines; others are providing really constructive comments on the pros and cons of the ideas put forward.

“What is not clear to me just yet, is whether there is a further group – large or small – of people who have not yet engaged at all. We will have a clearer picture of this over the course of this month as we start our significant programme of work to engage with individual firms and consumer groups – I’ll come back to this later.”

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