APFA urges FCA to cut regulation costs

Advisory firms have successfully adapted to the Retail Distribution Review (RDR) but the cost of regulation remains a massive barrier to development, the Association of Professional Financial Advisers (APFA) has said.

The organisation released a report on the impact of the RDR ahead of the Financial Conduct Authority’s (FCA) post-implementation review. It concluded while some progress had been made the watchdog must stop tinkering and avoid further regulatory change to reduce costs. Director general Chris Hannant (pictured) said: “While there has been a small drop in adviser numbers, this report shows that the majority of firms have adapted successfully to the post-RDR world. However, there are still a number of advisers with serious concerns about whether they will be able to continue with their ...