UK distributors to adopt discretionary model in response to Retail Distribution Review
The UK structured products industry could become “a market of marketers and discretionary managers”, industry warns
The implementation of the Retail Distribution Review (RDR) by the UK Financial Services Authority (FSA) will drive structured product distributors away from the advisory model and towards a discretionary approach, warn market participants.
“The FSA has proposed the question as: 'Is it better to receive bad advice or no advice?' and it has decided it is best to receive no advice,” says Simon Gleeson, partner at law firm Clifford Chance in London.
The RDR will cut the majority of the UK market
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