TSC vs the FSA: Reaction round-up

The industry is split on the merits of the Treasury Select Committee's (TSC) key recommendation to delay the RDR for 12 months until 1 January 2014.

Stephen Gay, Director General of AIFA: "AIFA believes the Committee's recommendation for a 12 month delay to implementation of the RDR, in line with its call for the removal of a cliff edge date, will ensure more consumers will be able to access advice in the short and medium term. "We hope the regulator responds positively to these sensible proposals. At the heart of RDR is the end consumer, who need advice, and the Committee has rightly put the focus back on them." David Thomson, director of policy and public affairs at the Chartered Insurance Institute (CII): "We welcome the T...