Grant Thornton's financial markets group has today spoken out in the debate on the FSA Retail Distribution Review ...
Grant Thornton's financial markets group has today spoken out in the debate on the FSA Retail Distribution Review (RDR).
The majority within the industry have welcomed the RDR as outlined by the FSA. Grant Thornton believes that all participants in the industry, particularly those not susceptible to accusations of self interest, should be involved in a reasoned and considered debate over the coming months to try and resolve the problems of the current system.
“The debate is not helped by a perception of self interest amongst some of the participants. It needs more involvement from organisations whose only interests are seen to be a highly successful life market at the end of the Review
John Graham, life actuarial director within Grant Thornton's financial markets group
John Graham, life actuarial director within Grant Thornton's financial markets group, says: "There are a number of shortcomings in the current system and the FSA has agreed to address these in its Review. However, the debate is not helped by a perception of self interest amongst some of the participants. It needs more involvement from organisations whose only interests are seen to be a highly successful life market at the end of the Review. An efficient, effective savings and investment industry is an essential ingredient to a vibrant economy."
FSA Retail Distribution Review
The FSA launched the launched the Retail Distribution Review (RDR) in June 2006 in response to recurrent problems in the market for the distribution of retail investment products.
The review involves the FSA, industry and consumer representatives working together to understand better the root causes of the current market inefficiencies and to find solutions that are attractive both to consumers and to firms.
