Davy: RDR implementation has been 'fundamentally flawed'

The SimplyBiz CEO said the trading environment "is completely different to the financial world when RDR was first thought of." "To continue blindly on in the way the FSA has done has been fundamentally flawed," he said. "When you look at the FOS statistics, the number of cases is tiny regards consumer detriment. "When you dissect them what it actually shows is that, in a 30-year career, an average adviser might get two or three complaints and only one of those might be found against them. "Lawyers, accountants and every other profession would be proud of that. Yet those facts ge...