Timeline: How the politicians woke up to RDR

It took a while, but the past six months have seen politicians in Westminster finally take note of RDR and the way it may impact advisers and consumers.

IFAonline looks back at how the issue has gradually edged its way up the political agenda.

28 June 2007 - The first recorded mention of RDR in Hansard came during a House of Lords debate on the skills base. Lord Hunt of Wirral said: "Just this week the FSA brought out a discussion paper on the retail distribution review, and at the heart of that paper is the need for the industry to ratchet up its levels of qualifications and professionalism."

19 October 2009 - The first written question on RDR asked by MP Philip Davies on the subject of qualifications. The government response becomes a familiar refrain: "The Retail Distribution Review is a matter for the FSA, as the independent regulator."

20 October 2010 - During the first parliamentary debate on RDR, led by Harriet Baldwin in Westminster Hall, Mark Hoban compares the existing IFA qualifications to those of McDonald's managers

23 November 2010 - Hector Sants tells the Treasury Select Committee (TSC) it would still be "acceptable" to see 30% of IFAs leave the industry as a result of RDR

25 November 2010 - Treasury Select Committee establishes inquiry into RDR and calls for written evidence

29 November 2010 - A debate of the future of IFAs is held in the House of Commons, led by Harriet Baldwin and Mark Garnier

30 November 2010 - MPs bemoan the lack of accountability of the FSA to Parliament during a Treasury Select Committee evidence session

8 February 2011 - TSC publishes written evidence as part of its inquiry into RDR. There are a total of 203 submissions on the issue

9 March 2011 - Hector Sants and Sheila Nicoll are grilled by the TSC on RDR