Joe Egerton, director of lobby group Justice in Financial Services, asks whether IFAs can still derail the RDR after the recent parliamentary debate.
The House of Commons debate on the RDR on the evening of 29 November 2010 displayed a remarkable unanimity against the FSA’s proposals. Winding up, the shadow minister said that Mark Hoban must have been relieved that there was to be no vote. The government whips would have found it very difficult to secure a majority for a motion endorsing the RDR. Does this mean that the RDR is dead? No. As Mark Hoban reminded the House, under the Financial Services & Markets Act 2000, the FSA has the legal power to push the RDR through. Giving evidence before the Treasury Committee on 23 November, ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes