Zurich: FSA should commission independent RDR review

The Financial Services Authority (FSA) should get an independent body such as an accountancy firm to review the success of the Retail Distribution Review (RDR), Zurich's head of government and industry affairs team Matt Connell has said.

A FSA review of the RDR is expected in 2014, following four thematic reviews this year in three cycles. The regulator will publish its findings after each cycle. However Zurich's Connell (pictured) is calling for an independent review of the RDR to give a "macro overview" of how the rule changes are working. "There should be an independent review of how the RDR is working by one of the Big Four accountancy firms, for example, to give an overview of the market as a whole rather than a snapshot." Connell wants to see mystery shopping as part of the review process, with consumers aske...