The RDR journey has come to a grinding (unsatisfactory) halt, says Ed Dymott. Here he explains how the FCA's plan to probe the closed life market could help get the magical mystery tour back on track...
The Retail Distribution Review (RDR) was always positioned as being a journey not a destination. First, the Financial Conduct Authority (FCA) tackled the advisory market. Then from April, changes come into effect for platforms and execution-only businesses. Now, I am never one to want further regulation, but current evidence would suggest this journey only has two stops. Having been promised what was going to be a magical mystery tour where the regulator would look to weed out every possible bias and conflict within our market, we have come to an abrupt stop. I feel like I have boarde...
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