Govt pledges red-tape reprieve for SMEs in FSA shake-up

Secretary to the Treasury Mark Hoban told MPs the moratorium announced by the Chancellor in the March Budget would not affect the FSA's current regulations, including the RDR. But he said it could be applied when the new regulatory structures are put in place, and the government would seek to write this into the statute books. "Where the government is granting new powers to the FSA through primary and secondary legislation, we will look to apply the moratorium," he said. The pledge comes just hours after the FSA published new proposals calling on advice firms to provide detailed da...