FCA seeks feedback on whether RDR and FAMR caused 'unintended harm' to consumers

Review delayed two years

The Financial Conduct Authority (FCA) has asked for feedback from advice firms, intermediaries and consumers on both RDR and FAMR, some two years after it initially intended to do so.

On Wednesday (1 May 2019), the FCA published a call for input, asking for feedback on how it should approach its review on the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR). In its report, the regulator asked people to answer 24 questions, based largely on consumer needs, the provision of advice, and guidance services and market changes. Examples of questions listed in the document included ‘what emerging risks to consumers do you see in the market?' and ‘did FAMR or the RDR result in unintended consequences that have caused consumer harm?' The FCA ...