MPs to conduct spring review of RDR

A group of MPs will next year evaluate the impact of the Retail Distribution Review (RDR) - with a particular focus on the ban on commission - in what represents the first independent, external probe into the RDR's influence.

The probe, to begin in April next year, will be spearheaded by the Treasury Select Committee (TSC), whose 13 MP representatives will examine written submissions and carry out face-to-face interviews. It will invite all stakeholders, including financial advisers, to submit evidence. It will also take into account the views of the Financial Conduct Authority (FCA), which is carrying out its own three-pronged review into RDR, as well as those of adviser bodies such as the Association of Professional Financial Advisers (APFA). Conservative MP and TSC member Mark Garnier said there would b...