The incoming Financial Conduct Authority (FCA) may change rules introduced following the Retail Distribution Review (RDR) sooner than planned if it identifies widespread non-compliance or any harmful unintended consequences.
The regulator - one of two bodies set to replace the Financial Services Authority (FSA) from next month - is conducting a full-scale review of the RDR's impact next year, after which it may tweak its regulations. But in the FCA's first business plan, published today, it revealed it may "tighten or amend" its rules before that if it considers they are not working. It outlined how it expects its RDR Post Implementation Supervision Strategy to help reduce the risks associated with adviser firms failing to devise, disclose and deliver compliant charging and service advice models. Part ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
