TSC vs FSA: Sants admits RDR will not close savings gap

Quizzed by committee members on the fundamental consumer interest principle of RDR, Sants admitted the rule change will not encourage more people to save - despite improving cutomer outcomes being a driving principle underlying the regulatory overhaul. The FSA chief executive said although bridging the savings gap is a "key concern" for the government it is not a central RDR policy. In response to a question from the committee about the savings gap in the UK market he said of RDR: "It is not specifically designed to deal with this issue, but if the market is more trusted by consumers ...