The Financial Services Authority (FSA) and Treasury "seem to be in denial of the pending shambles' caused by the Retail Distribution Review (RDR), Lord Flight has argued.
In a letter appearing in thisismoney.co.uk, Flight writes: "The Financial Services Authority announced on 7 September it would be sticking to the New Year deadline for the Retail Distribution Review (RDR) - Britain's shake-up to financial advice - but that, reflecting ‘proportionality', individual financial advisers will be able to get a waiver of the deadline if they are not yet ready to implement RDR requirements. This approach only adds more uncertainty and more cost to a process which has been flawed from the outset. Under what conditions would the FSA offer a waiver? Are such w...
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