View more on these topics

Regulator facing legal battle on RDR

Cazalet Consulting principal Ned Cazalet believes that the FSA will face tough regulatory and legal barriers if it tries to carry through its planned differentiation between sales and advice.

As part of his latest report into the life and pension market, published this week, Cazalet says the split is well intentioned but could create consumer confusion and legal disagreements over the use of the word “advice”.

He says the FSA should have given more focus to issues such as churning and the sustainability of business models rather than multi-ties.

The report criticises the FSA for not doing enough work on what consumers understand and the industry means by advice and sales and whether the regulator’s plan would be compatible with European law.

Cazalet says: “The question is whether the FSA’s plan to neatly separate advice from sales and assert that if advice is given outside of a whole of market context it is actually not advice, regardless of the plain and ordinary meaning of the word, is capable of being implemented.”


Ascentric adds business managers

Wrap firm Ascentric is hiring two new business development managers. John Braybrook and Ian Beardow will provide IFA support across Wales and the South.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm