Not very inspiring

We have the FSA admitting they nearly scrapped RDR. The new government breaking up the FSA because it's been a failure in virtually every area they have been involved in, and then they say keep the RDR! How can you keep anything from a discredited organisation is beyond common sense. But when has common sense ever been used?

Posted by: paolo standerwick

CPMA

So, will Keydata Mark II (when it inevitably happens) be an Investment Adviser regulated only by the CPMA , or an Insurance Company prudentially regulated by the PRA , and therefore not in the IFA part of the FSCS?

Posted by: Anon

Same old same old

Same people, same New Labour 'policies', same gaps, same problems, same recipe for catastrophic failure. Same, just the same, no different. Top down regulation doesn't work, but nobody listens.

Posted by: Evan Owen

RDR plods on

So, it is to cost the taxpayer £50m to just change the name and tweek a few rules? Not at all inspiring and I wish I hadn't voted the way I did at the General Election! Cameron said he would scrap the FSA and RDR. Clegg appeared to want to protect the rights of ordinary folk to have independent financvial advice without having to fork out for fees. So far both these political ideals have been scrapped, it seems to me.

Posted by: Derek Vivian

Don't like RDR? Move to Europe

An article I read last week in Money Marketing blew my mind. It basically had an unnamed source at the FSA stating that any financial advisors passporting in from outside the UK would be subject to the regulation they have in their own country. Since we seem to be the only country suicidal enough to go ahead with RDR, these advisors "passporting in" would not be subject to it. What really got me was this source stating, and I quote, “Any European adviser that sets up a firm in the UK will need to meet the RDR requirements but if they passport in they will be regulated by their home regulator. We are not concerned that there will not be a level playing field. Consumers will be free to shop around and choose whichever adviser they want.” Not concerned there will not be a level playing field. *sound of jaw colliding with floor* Oh my goodness. Is this not proof, if any be needed, of the FSA's vandalistic intent. Can I actually escape this madness by registering my business overseas? Here's the link: http://www.moneymarketing.co.uk/regulation/mep-asks-for-euro-probe-on-validity-of-rdr/1015570.article

Posted by: Jon T

Cost cuts urgently required

Excessive regulation and red tape means;- 1. Excessive Costs 2. Stifling Innovation of new products 3. More IFA Practices operating at a loss. 4. Life and Investment Company rationalisation, staff reductions and regional office closures. 5. Deteriorating administration services 4. Advice unaffordeable to 95% of the population due to excessive fee structures. 5. Less advisers- the melt-down is already underway. 6. No mortgage advisers to advise when the upturn eventually arrives. 7. Decreasing sales of existing products etc etc. I there anyone out there who can help?

Posted by: John Hooper