The FSA has released the names of the five industry leaders heading its Retail Distribution Review (RDR).
The group chairs are:
1. Sustainability of the distribution sector: Jo Dawson, Chief Executive, Insurance and Investment Division, HBOS Group
2. Impact of incentives: Mike Yardley, Group Chief Executive, Royal London Group
3. Professionalism and reputation: Roderic Rennison, Group Corporate Director, Thinc Group
4. Consumer access to financial products and services: Otto Thoresen, Chief Executive, Aegon UK
5. Regulatory barriers and enablers: Dan Waters, Director of Retail Policy, FSA.
The RDR will result in a discussion paper due for publication in December 2007.
Clive Briault, FSA managing director of retail markets, said: "The Retail Distribution Review will act as a catalyst to improve the efficiency of the distribution of retail investment products and achieve better outcomes for consumers as a result. The appointment of industry leaders is an important step forward in achieving that.
"The industry has serious challenges to face from economic and market pressures as well as from complying with regulatory standards. The review will consider the bigger picture and the five priorities will not be viewed in isolation. We favour market solutions and are looking to facilitate an industry-led outcome."