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The Retail Distribution Review feedback statement will not be published until the second quarter of next year, the FSA said today.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


‘Restructure must address non-advice’

Aifa is calling on the FSA to look more closely into non-advised sales as it says consumers are confused over what constitutes advice.The trade body’s second retail distribution review issues paper paper says: “This is a growing market in which we are seeing increasing problems and a misunderstanding over the nature of service received.”Aifa says […]

Schroders reaps aggie rewards

The Schroder agriculture fund has taken $1bn in assets in less than a year.Schroders says the fund, which was launched last October, has returned 14.86 per cent since launch, outperforming the Rogers International Commodities Agriculture TR index by 8.39 per cent.Fund manager Rodolphe Roche says he is confident that the agriculture sector is set for […]

Increase in female resignations in pensions sector

More women resigned from the pension sector in 2006 than the previous year according to the Chartered Management Institute and Remuneration Economics.The institute suggests the gender pay gap may have contributed to the rise in resignations. Women in the sector saw a 5.5 per cent increase in pay while men saw a rise of 5.7 […]

Waving goodbye to more UK brands

The mortgage industry is buzzing with the news that Lehman Brothers will be withdrawing from the second charge market in the UK with the closure of both its Southern Pacific Personal Loans and London Mortgage Company brands.

US loan growth is not painting a pretty picture for the US economy

Written by Mike Riddell One of the current big debates in global financial markets is whether investors should believe ‘hard’ rather than ‘soft’ data, where the usually reliable business and consumer surveys have been suggesting strengthening in global growth momentum for some time now, while the economic data that feeds through into the Gross Domestic […]


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