An MP at the centre of this week's maiden parliamentary debate on the RDR has hinted advisers should not expect changes to the FSA's adviser charging rules, but says the regulator could "soften" its qualification requirements.
A relaxation of the qualifications rules may be the best outcome opponents of the Review will get because the perceived link between commission and poor advice is easier to correlate and therefore more difficult to challenge, MP Harriett Baldwin said. This week's three hour debate in the Commons drew support from over 80 MPs, who all called on Financial Secretary to the Treasury Mark Hoban to urge the FSA to reconsider aspects of the RDR. Speaking after the debate, which covered qualifications, adviser charging, and grandfathering, Baldwin said: "Qualifications are a harder issue to c...
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